BBC SIGNS CONTRACT WITH LAND SECURITIES TRILLIUM

THE BBC have announced that they have signed the contract for a ground-breaking property partnership with Land Securities Trillium, generating millions of pounds for programme-making and improving accommodation for thousands of BBC staff and visitors at no additional cost to the licence fee payer.
The partnership means the BBC can build a state-of-the-art broadcast and presentation centre at their White City site in London and embark on plans to build a music centre, plus six more buildings at the site.
Crucially the deal will also enable the BBC to develop their vision for Broadcasting House in London W1 - creating the world’s largest live broadcasting centre - and continue developing their plans for a new BBC Scotland HQ at Pacific Quay in Glasgow.
The BBC has over 500 properties across the UK and in recent months have developed an exciting new strategy to modernise their accommodation - making it more welcoming to audiences, more attractive to talent, staff and contributors, more flexible to technological change and more cost efficient.
The BBC’s new approach to property is rolling out across the UK, meanwhile the London and Scottish estates will be amongst the first to benefit as they are included in The Partnership goes live on November 12.
Land Securities Trillium will invest approximately £220m to construct the first phase of a development at BBC White City in London, W12. The total value of the deal over 30 years is around £2bn, which represents a significant saving for the BBC on current spend.
In addition, there will be a cash payment of £35m to the BBC on signing which will go into programme-making. As a result of the deal, the BBC will benefit from a modernised and re-developed estate, fully serviced for occupation.
Under the terms of the deal, the freehold for the BBC White City site transfers to the partnership and LS Trillium are now responsible for the implementation of the first phase of development at the White City site.
Land Securities Trillium will also provide property development and property management of the BBC’s estates in London and Scotland for a 30 year period. This covers 65 buildings and means that approximately 340 BBC Facilities Management and Construction Management staff will transfer to the company or its service partners.
In addition, the Partnership will develop the business case and implementation plans for re-developing Broadcasting House, developing Pacific Quay and further developing White City.
Should this initial phase of the partnership prove successful, it will be extended and Land Securities Trillium will invest further money so the sites can be developed.
The partnership will then be regularly re-assessed to see if other parts of the BBC’s property estate can be included. (CD)