Wed, 18 Jul 2012 | COMMERCIAL PROPERTY
The BBC Television Centre has been put up for sale, it has been confirmed, with a buyer already lined up.
Property developer Stanhope looks set to buy the iconic West London building for around £200 million after a deal was sealed following the First Night of the Proms.
It is hoped that the sale will contribute to the BBC's efforts to reduce its costs. As part of this, it is conducting a part-relocation to Salford in Manchester as a six-year freeze on the licence fee looks set to significantly impact funds.
Not everyone has welcomed the sale of the Television Centre. Presenter and journalist Jeremy Paxman has attacked the decision to close the building and criticised the increase in spending on Broadcasting House, which is located in a more expensive area of London.
The building was opened on 29 June 1960 and was the BBC's first purpose-build site for television production. Some of the best-known series have been produced at the location, including Fawlty Towers and Doctor Who.
Future plans for the building are not known but it is thought likely that Stanhope will accommodate a mixed-use development in line with the Greater London Authority's efforts to redevelop the White City area.
Full details are due to be revealed upon completion, which is expected within the next few days.
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