The BBC has appointed Insight, the Land Securities/Trillium
bid, as preferred bidder for its proposed property partnership with
the private sector (see News story).
Insight will now enter a further stage of detailed negotiations with
the BBC, with a view to forming a partnership this summer. The other
consortium on the shortlist of two, the Foresite Consortium including
Amey Ventures, Barclays Private Equity and Arrowcroft Group, is now
officially the Reserve Bidder.
John Smith, BBC Director of Finance, Property and Business Affairs said:
We were very impressed with the quality and diligence of both
bidders. They have put in a huge amount of effort and we are very grateful
to them. We are confident that Insight has a proposition which is most
likely to meet the BBCs needs, but there is a lot more hard work
and negotiation ahead of us. We will complete the deal only if we are
satisified it provides best value for the licence fee payer.
The BBC White City site in London was highlighted as the first project
in the proposed partnership (see News
story). The Corporation has since announced that its planned redevelopment
of Broadcasting House in London (see News
story), and its proposed new BBC Scotland HQ at Pacific Quay in
Glasgow, could also be developed through the partnership.
In addition to property development, the partnership will manage and
operate the BBCs London and Scottish property portfolios, but
the full extent and scope of the partnership is subject to further negotiation.
Richard Byatt
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