Last Friday the BBC completed on the BBC Television Centre. Rather than the expected sell out the deal will see the legacy protected.
As Caroline Thomson said, this deal will bring about a new creative hub for West London where Stanhope Plc will work in partnership with the BBC on the future of Television Centre. In contrast with a traditional sale, the parties have agreed on a joint approach to build on the site's legacy and to build a new future for TVC that everyone can be proud of.
Part of this innovative approach or smart value solution gave rise to including in the new look TVC a new home for BBC Worldwide, and the opportunity for Studios and Post Production to return to operate studios including the iconic Studio 1.
Over the coming weeks I will be providing more information as we work with Stanhope to evolve the next chapter of TVC.
Early last Saturday morning the BBC exchanged contracts for the sale of Television Centre, it marks a successful end to a lengthy journey.
Further news will follow later this week.
After many weeks of intensive discussion and negotiation I’m pleased to say that the finishing line is in sight. The last few months have been quite a rollercoaster as the BBC sales team engaged with a variety of parties all intent on securing the opportunity to build on the legacy of TVC.
There has been a huge amount of discussion about how to take the BBC’s iconic home and make something that we can all be proud of – a solution that respects the heritage aspects, builds greater connectivity with the local community and generates sufficient returns in order to make the whole effort worthwhile. When we set out on this journey to find a buyer we had three key objectives of maximising value, minimising risk during the handover from the BBC to the new owner whilst protecting the legacy of TVC. During this process we have found that these were very useful as guiding principles and helped us focus on bidders who could really met these ambitions.
So watch this space for an announcement in the near future!