BBC and Stanhope Agree to Redevelop Television Centre as Hotel

British Broadcasting Corp., the world’s largest public broadcaster, and U.K. developer Stanhope Plc said they plan to turn London’s landmark Television Centre complex into apartments and a hotel.

The interconnected buildings, where television shows such as “Fawlty Towers” and “Monty Python’s Flying Circus” were filmed, will have its circular inner ring refurbished as a boutique hotel and apartments, Stanhope and the BBC said in a statement today. Neighboring sites will be refurbished as offices for companies in the creative industries, according to the statement.

The BBC moved the production of some radio and TV shows to Manchester, England, from London to save money after its funding was frozen by the U.K. government. The broadcaster agreed to sell the 14-acre (5.7 hectare) site in London’s White City district to Stanhope for about 200 million pounds ($305 million) last July.

“This development will not only deliver a legacy befitting a site of such historical significance, but also is part of a BBC property strategy which is maximizing value for money for the licence-fee payer and releasing fresh funding for programming,” BBC Director of Operations Dominic Coles said in the statement.

Planning applications for the redevelopment of the buildings, which are listed as historically significant, are being prepared, according to the statement.