Stanhope, Mitsui Fudosan and AIMCo are reportedly set to begin approaching investors about a sale of White City Place.
The former BBC estate in White City has been redeveloped as a 1m sq ft business district which includes six buildings – WestWorks, MediaWorks, the Garden House, the Broadcast Centre, Energy Centre and Lighthouse building – with occupiers including the BBC, ITV Studios, Global Brands Group, Li & Fung, Yoox-Net-A-Porter, Ralph & Russ, Attention Seekers, Arts Alliance Media, and Novartis. The buildings were designed for life science, creative, and tech businesses.
The developers appointed Eastdil Secured to review options earlier in 2019, which included a direct sale, bringing in other investment partners or a refinancing, and it now appears the decision has been taken to sell. It is expected to be marketed at in excess of £700m.