10th Oct 2018 11:30
LONDON (Alliance News) - ITV PLC on Tuesday confirmed it is putting its London South Bank site up for sale.
Since the decision to redevelop the building by the south side of the Thames, the broadcaster has moved into new office space in Holborn and studios in W12 which provide "modern, functional and flexible working environments".
The FTSE 100 constituent said it wants its London property portfolio to be able to support its new strategy by giving ITV the "flexibility" to grow as well as supporting its aim to be "an agile and increasingly digital" organisation.
"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," said ITV.
ITV did not say how much it expects to generate from the sale.
The Financial Times had reported the decision earlier on Tuesday, and said the broadcaster moved out of the studio facility in 2017 but had originally planned to return after the building had been modernised.
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