Jan 20, 2019

ITV hopes to raise £150m from sale of headquarters

ITV hopes to raise at least £150m from the sale of its headquarters on London's South Bank after putting the site on the market through Knight Frank, the global property consultancy. ITV moved out in 2017 and originally planned to return after the site had been refurbished. Programmes such as Good Morning Britain, which had been recorded on the South Bank, made their final broadcasts from there last April and are at present filmed at the Studioworks in White City, which is owned by the BBC. The proposed sale comes as the South Bank grows in popularity as an office location, with companies such as advertising group WPP moving there. ITV, which declined to comment, is putting the development on the market the week after its shares fell about 6 per cent on a report by Bank of America Merrill Lynch analysts that traditional television was declining because of the growth of streaming services, such as Netflix. The shares clawed back some of the losses by the end of the week and are now trading at 132.65p. ITV is separately working on a streaming service that it would operate with the BBC, pooling programming from both organisations.

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