Beacon Capital Partners, a US equity firm has appointed Jones Lang LaSalle to sell 200 Grays Inn Road – The headquarters of ITN.
Beacon declined to comment on the restructuring. At Gray’s Inn Road, Beacon has put ITN’s headquarters, where Channel 4 News and ITV News at 10 are filmed, up for sale for £140m – a 6.2% yield. The 282,000 sq ft, Foster & Partners-designed building produces rent of £8.9m a year, or £30/sq ft, and has 12 years remaining on the lease.
Andrew Hawkins, a director in JLL’s City investment team, said: “This is an iconic building with generous floorplates, which is being sold for less than replacement cost. Midtown outperformed the City last year and the building is being offered off very low rents.”
Former ITV News correspondent Harry Smith has died. Harry, who began his career in 1969 as editor of local newspaper Forfar Dispatch, died suddenly on Friday morning, his family confirmed. In a statement published on social media this morning, Harry’s… Read more
The Chancellor of the Exchequer Rishi Sunak will reveal his first budget this afternoon (11 March) after just 27 days in the job. Rishi was previously Chief Secretary to the Treasury from July 2019 to February 2020, and Parliamentary Under… Read more
ITV today announced two new weekend shows – Breakfast at Garraway’s and Martin & Roman’s Sunday Best! – to start in April 2020. Breakfast at Garraway’s will see Good Morning Britain presenter Kate Garraway present her own one-hour show every… Read more