ITV purchases London Television Centre fo 56m pounds

FTSE 100 listed company ITV has acquired the freehold of London Television Centre for 56m pounds.

FTSE 100 listed company ITV has acquired the freehold of London Television Centre for 56m pounds.

According to the company, the purchase gives ITV flexibility in its property strategy as it continues to rebalance the company. It follows on from the ITV's earlier decision to refurbish its facilities in Leeds and relocate its northern offices in Manchester to MediaCity in Salford, an area on the outskirts of city.

The company purchased the 2.5 acre site from Coal Pension Properties. In addition to the £56m, Coal Pension Properties could receive additional payments up to a maximum of £6.5m if ITV undertakes substantial redevelopment of the site during the next decade.

Prior to the purchase, ITV was locked into a 56-year lease with no breaks on the 22-storey tower and studio complex.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020