BBC Worldwide HQ hunt lights up London/South East office market

By Paul Norman - Tuesday, October 18, 2011 15:06

BBC Worldwide has appointed Cushman & Wakefield to find a potential 125,000 sq ft headquarters building in locations stretching from the West End of London across the M25 office market.

Cushman has circulated to the market this week an initial feasibility study “in line with the BBC’s regular real estate reviews” for alternative offices to its existing premises at the media centre at White City, west London.

It has asked agents to provide full details of any “high quality office premises of approximately 125,000 sq ft that can be deliverable within the next three years”.

The search area is the “Western quadrant inside the M25 that is bounded by the M40 in the north, the A3 in the south and as far east as the West End”.

The move opens the door to the BBC selling on more of its White City media village complex, potentially to a Premier League Football Club, as part of a major drive to cut costs and realise value from its property estate.

Earlier this month the BBC confirmed it would be cutting a further 2,000 jobs and was proposing a complete withdrawal of its public services staff from west London over the next few years.

The process meant that its adjacent White City One building in its media village complex, home to around 1,000 staff, could be sold. BBC Worldwide occupies the Media Centre, 201 Wood Lane, a new development within the media village complex.

Football clubs Queen Park Rangers and Chelsea are both understood to have expressed interest in the site.

The broadcaster is also currently shortlisting potential bidders for its nearby historic Television Centre home in a separate tender.

pnorman@costar.co.uk

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