ITV Expects £100m Profit From HQ Sale

Broadcaster ITV is hoping to make a £100m profit from the sale of its London headquarters, it is reported.

ITV Plc bought the building at South Bank, close to the National Theatre and Waterloo station for £56m in 2013, after leasing it for several years. The organisation has also secured planning consent to redevelop the building with two towers of 31 and 14 storeys, plus 213 apartments while retaining studio and office space for itself.

However, it was reported last year that CEO Carolyn McCall has decided to sell the building as part of an efficiency drive and relocate ITV’s HQ to its Holborn, central London offices. Sources in the Financial Times report now suggest the building could sell for in excess of £150m.

While a £100m profit in six years looks to be a good deal for ITV it seems likely the site could be an even better deal for a potential buyer. It’s easy to see how an enterprising developer might come forward with an ambitious proposal for redeveloping such a prime site right by the Thames.

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Source Financial Times
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