BBC agrees to sell Television Centre to Stanhope for ?200 mn

MUMBAI: BBC has agreed to sell its Television Centre in West London to property developers Stanhope Plc for a total price in the order of ?200 million.

Contracts for the sale have been exchanged. Full details of the sale will be available on completion.

BBC put Television Centre on sale in June 2011 and has operated on the site since 1960.

The BBC originally announced its intention to sell Television Centre in 2007. LSH were appointed in November 2010 following a competitive tender to help finalise the strategy to market the 14-acre freehold site.

The pubcaster?s objective was to maximise value and take advantage of high investor demand for commercial property in London and a shortage of landmark sites as distinctive as Television Centre.