ITV Sells Its Famous London Headquarters For $186M
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ITV has sold its famous headquarters, the London Television Centre, for £145.6M ($186M) to property developer Mitsubishi Estate London.
The British broadcaster announced the sale to the stock market on Friday afternoon, severing ties with a building it has had an association with for more than 40 years.
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The tower block looms over the River Thames on London’s South Bank and was built for ITV’s London Weekend Television in the 1970s.
ITV bought the freehold on London Television Centre in 2013 for £56M, but just four years later, announced it was moving out to redevelop the site. By 2018, ITV ditched the redevelopment plans and decided to sell, saying it wanted to focus its resources on areas of the business that “will deliver greatest value.”
London Television Centre was where tent-pole ITV shows, including Piers Morgan-fronted Good Morning Britain and This Morning, were filmed. The shows are now made out of BBC studios in White City in west London. ITV’s staff are based out of offices in Holborn.
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