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News - 14/10/2013

LSH puts BBC sites up for sale

The two Cardiff-based properties that have served as BBC Wales’ HQ for decades officially went onto the open market this week. We are leading the sales drive.

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For Sale boards at Broadcasting House and Ty Oldfield in Llandaff went up on Monday heralding the start of a marketing campaign designed to attract interest from developers and property companies to redevelop the sites.

BBC Wales plans to relocate to a new purpose-built headquarter facility elsewhere in the capital by the end of 2018 and is also being advised by LSH in identifying a suitable new location. A variety of options are currently under consideration with developers having been invited to tender for the construction of a new broadcasting facility which will utilise the latest technology and create a new working environment to provide an efficient and cost-effective workplace. A final decision on the move and the new site is expected by Spring 2014.

Broadcasting House totals 10.5 acres with Ty Oldfield covering 6.95 acres and are considered suitable for alternative uses subject to planning. Both sites available on a freehold basis.

As Steve Matheson, Head of Agency in Cardiff comments: “The release of the properties has created a rare and outstanding opportunity for development in a highly sought after residential suburb of Cardiff”

The deadline for submissions to acquire the sites will be the 6th December 2013 and LSH, acting as the retained sole agents on behalf of the BBC, are confident that the sale will generate significant interest.

Explains Matheson: “The sale will become unconditional once planning is secured with the new owners handed vacant possession on completion of BBC Wales’ relocation to its new headquarters in October 2018.”


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