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ITV buys South Bank HQ for 56 million

London SE1 website team

ITV plc has acquired the freehold of the London Television Centre, the company's headquarters and studios complex on the South Bank.

ITV buys South Bank HQ for 56 million

The company has purchased the 2.5 acre site for 56 million from Coal Pension Properties.

If there is any substantial redevelopment of the site in the next 10 years, Coal Pension Properties may receive additional payments up to 6.5 million

Prior to the purchase, ITV was locked into a 56-year lease on the 22-storey tower and studio complex which was purpose built in the early 1970s for London Weekend Television.

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