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

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021