News Corp.’s News International unit is in talks to move its U.K. headquarters to a 17-story building adjacent to the Shard skyscraper in London, two people with knowledge of the matter said.
The U.K. newspaper unit of Rupert Murdoch’s News Corp. (NWSA) is negotiating a lease for as much as 428,000 square feet (40,000 square meters) in the building known as The Place in the London Bridge neighborhood, said the people who asked not to be identified because the talks are private. No deal has been completed and News International is among several companies interested in occupying the building, one of the people said.
News International’s lease is due for renewal next year and the company is exploring all options to ensure it continues to meet the needs of the business, a News International spokesman said by e-mail. Sellar Property Group, the developer of the Shard and the Place, declined to comment.
News International, publisher of The Sun and the London- based Times newspapers, sold its headquarters in London’s Wapping neighborhood to Berkeley Group Holdings Plc (BKG) about a year ago to profit from London’s surging residential market. The company moved to Land Securities Group Plc’s (LAND) Thomas More Square office and has an option to break the lease in 2015.
The Place and the Shard are part of a development called the London Bridge Quarter that Sellar Property is developing along with the Qatar Central Bank. The 72-story Shard is the tallest building in western Europe.
CBRE Group Inc. and Colliers International advise Sellar on getting tenants for The Place.
Estates Gazette and Property Week reported the news earlier today.
To contact the reporter on this story: Patrick Gower in London at firstname.lastname@example.org
To contact the editor responsible for this story: Andrew Blackman at email@example.com