White City sale progress

The sale of White City Place is progressing, with four bidders now understood to be still in the race.

An international group including Cadillac Fairview (Canada), GIC (Singapore), Peterson Group (Hong Kong) and Great Portland Estates (UK) have, it is understood, made it through to the second round in the race to buy the 966,290 sq ft office campus.

Stanhope, Mitsui Fudosan and AIMCo put its lease, which runs until 2035, over the 17-acre site up for sale with Eastdil Secured for around £250m.

The campus contains WestWorks, MediaWorks, the Garden House, Television Centre, Energy Centre and the Lighthouse building. Tenants already include the BBC, ITV Studios, YOOX Net-A-Porter, The Royal College of Art and Huckletree with L’Oréal set to move in soon.

The BBC sold the site to Stanhope, Mitsui Fudosan and AIMCo in 2015 for £87m, and has since redeveloped Television Centre into 432 homes, and a hotel and office space, while refurbishing WestWorks, MediaWorks and Garden House.

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