Bloomberg News

BBC Said to Get Offer of 200 Million Pounds for London Base

October 28, 2011

(Updates with comment from BBC spokeswoman in last paragraph.)

Oct. 28 (Bloomberg) -- The British Broadcasting Corp., the world’s largest public broadcaster, received a bid of about 200 million pounds ($323 million) for its headquarters in west London, according to two people with knowledge of the sale.

More than 10 offers have been made for the property, which is on a 14-acre (5.7-hectare) site in the White City district, the people said. They declined to be identified because the bidding process is private.

BBC is cutting 2,000 jobs and moving offices and production outside of London as part of a plan to reduce costs after its funding was frozen. Television Centre, which opened in 1960, was the first building in Britain that was specifically designed as a television-production facility. Parts of the site gained heritage protection in 2009.

Lambert Smith Hampton, a London-based broker, is handling the sale. A shortlist of bidders will be drawn up in December and a buyer may be announced by the end of the year, according to one of the people.

Kate Brewer, a BBC spokeswoman, said multiple offers have been received for the property. They will be evaluated over the new few months, she said in an e-mail. Brewer wouldn’t comment further.

--Editors: Andrew Blackman, Jeff St.Onge.

To contact the reporter on this story: Christopher Spillane in London at cspillane3@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net


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