BBC property sale to create annual savings of £33m

The BBC has announced plans to sell and sublet its Media Village site in west London as part of its plans to “dramatically reduce the size and cost of BBC buildings.”

The BBC said that it will receive £87 million for the sale of four acres of freehold land and the lease of six buildings – three of which will continue to be occupied by the BBC. This will result in £33 million of annual running cost savings.

The three buildings being vacated by the BBC ­– White City One, Media Centre and Garden House – will be fully refurbished and brought back to the market from late 2016.

“This will mean the corporation’s property footprint is now reduced by around 40 per cent since 1998 – a significant achievement within the public sector,” said the BBC.