Oct 9, 2018

ITV ditches plan to return to base on London’s South Bank

ITV has scrapped plans to return to its headquarters on London's South Bank after a planned five-year redevelopment, instead deciding to sell the site. Analysts said ITV stands to make a profit on the building as demand for South Bank office real estate has risen. Analysts at Liberum said the site could now fetch as much as £245m. ITV has had an association with the site near Waterloo, which was formerly the headquarters of London Weekend Television, for more than 40 years. Programmes such as Good Morning Britain, which had been recorded on the South Bank, made their final broadcasts from the building in April and are currently filmed at the Studioworks in White City, which is owned by the BBC. After the Financial Times reported its change of plan, ITV said: "Since the original decision to redevelop the South Bank site, ITV has launched its new strategy and has successfully moved to new office space in Holborn and studios in W12. These provide excellent modern, functional and flexible working environments." The Financial Times' building, downriver from the ITV building on the South Bank of the Thames, is to be marketed for around £90m ahead of the newspaper's move to the City of London.

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