ITV has agreed a sale of its iconic London Television Centre building on London’s Southbank.

 

ITV has exchanged contracts for the sale to Mitsubishi Estate London Limited in an all-cash transaction for £145.6m.

 

Completion is expected to occur by the end of November.

 

ITV announced the closure of the studios at the centre back in 2017 and then planned to redevelop the site for to use as an HQ with a smaller studio set up for its inhouse daytime shows.

 

Part of proceeds of the sale of the South Bank will go to the ITV pension fund with the rest used to reduce ITV’s net debt.

Staff Reporter