ITV has announced that it is to sell its headquarters on London’s South Bank, scrapping its previous plans to redevelop the site. The broadcaster said it has opted to remain at its new offices in Holborn and studios at the Television Centre in White City rather than return to its original HQ on Southbank as previously planned.
ITV had previously leased the studios on South Bank since 1972 until acquiring them for £56m in 2013. The studios were home to some of ITV’s best known shows including This Morning, Good Morning Britain, Blind Date, Ant and Dec’s Saturday Night Takeaway and Loose Women.
ITV vacated the building earlier this year with plans to move back in within five years after the studios had undergone an extensive redevelopment project. However, ITV’s chief executive, Carolyn McCall, has instead decided to sell the site as part of a cost-cutting strategy.
It had planned to demolish the 24-storey Kent House tower, which ITV used as its HQ, and adjoining London Studios. ITV planned to replace them with a mixed-use scheme, creating a new HQ and studios for ITV Daytime, as well as a 31-storey apartment block and commercial units.
A spokesperson for ITV said: “Since the original decision to redevelop the South Bank site ITV has launched its new strategy and has successfully moved to new office space in Holborn and studios in W12”.
ITV added “By remaining in our current London office and studio spaces we can focus more time and resource on the areas of the business which will deliver greatest value”.