ITV to sell former home of This Morning for £145 million
8 November 2019, 16:49 | Updated: 8 November 2019, 16:52
The London Television Centre is being sold.
ITV has agreed to sell the former This Morning studio for £145 million.
The London Television Centre on the capital’s South Bank will be offloaded in new deal announced today.
It is understood that contracts for the central London real estate will pass to Mitsubishi Estate London Limited.
The studios were the home of morning television staples, including This Morning, Lorraine, and Good Morning Britain.
In a statement posted online, ITV plc said: “ITV has today exchanged contracts for the sale of the London Television Centre on the South Bank to Mitsubishi Estate London Limited in an all-cash transaction for £145.6m. Completion is expected to occur by the end of November.”
Part of the proceeds from the sale will go in part towards reducing ITV’s “net debt”.
ITV’s morning television shows have relocated to White City in the West End of London.