Tuesday, March 10, 2015

Making money

Ah, the economics of property development. Property Week reports that the new owners of the Television Centre site are on the verge of a deal to sell a long-leasehold (not the freehold) on one small element of the 14-acre plot for £60m.  Aviva have apparently bid over the asking price for the area formerly known as Stage 6, which this year becomes the new home for BBC Worldwide, on a 25 year lease at £2.65m p.a. rising with inflation.

The portion of the plot under offer is shaded grey.

The BBC got £200m for the whole site, but will retain an interest in three tv studios through its loss-making commercial subsidiary BBC Studios and Post Production.

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