Savills plc

11/22/2021 | Press release | Distributed by Public on 11/22/2021 10:50

Landsec buys 75% interest in MediaCityUK from Peel and L&G

MediaCityUK is a leading international hub for the creative and digital sectors. The 37 acre estate is home to the UK's largest television studio facility, as well as a vibrant mix of Grade A office accommodation, managed workspace, residential and leisure accommodation.

Designed around world-class smart city infrastructure, including one of the best connected communications networks in the UK, and home to over 250 businesses, the estate provides a holistic creative eco-system that is highly attractive to a broad range of media and technology occupiers, from start-ups and SMEs through to major broadcasters, such as ITV and the BBC.

Undeveloped plots on the estate provide scope to deliver an additional 1.6 million sq ft of new floor space, including almost 1,200 additional residential units.

Ralph Watson, Director, Savills Capital Advisors said: "It has been a pleasure working with the Landsec team on this exciting off-market transaction. MediaCityUK is a unique mixed-use campus and is ideally suited to Landsec's strategic aspirations, offering an opportunity for the business to utilise its development expertise and create additional value for its stakeholders".

Joe Guilfoyle, Head of Corporate Finance, Savills Capital Advisors, added: "This is another significant transaction for our business and is a great example of how our investor network, corporate finance capability and real estate intelligence combine to deliver value for our clients".

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