Member Article

Apartments on former BBC Television Centre site almost fully-let

Over 110 of the initial release of 164 flats in the former BBC Television Centre in London have already been sold before any have been marketed to overseas buyers by its developers Stanhope, Mitsui Fudosan and Alberta Investment Management Corporation (AIMCo).

Japanese property company, Mitsui Fudosan has already invested £1.5bn in London, is involved in projects in London with an estimated end value of £4bn and is planning to invest more over the next three years.

Canadian pension fund managers AIMCo, which has $85bn in assets under management, had continued to invest in London and in regional UK and European markets on behalf of it clients.

Television Centre and White City Place will be a new creative and tech quarter to rival Soho – together a total of 5m sq ft of homes, offices and mixed use development in White City.

This investment is part of the wider £7bn regeneration and transformation of White City in west London which will create more than 19,000 jobs, 5,000 new homes and more than 400 shops and stores.

The Mayor of London, Boris Johnson said: “This development is a key part of the exciting mass regeneration of White City and is delivering much needed new homes. It’s vitally important that people can purchase property nearby their places of work and I commend Stanhope, Mitsui Fudosan and AIMCo for rightly offering homes to Londoners first. Their investment is an enormous boost to the area and helping create a vibrant new community and a fitting legacy for our iconic former Television Centre.”

Hideto Yamada, Managing Director of Mitsui Fudosan UK, said: “Television Centre has a great legacy of being the world’s first purpose built centre for television production, we want to retain and maximise those values. We want to work with London’s long-term vision and deliver it together.”

This was posted in Bdaily's Members' News section by Ellen Forster .