Broadcasting giant Sky has instructed agent BNP Paribas Real Estate to sell its headquarters and studios in west London for £545 mln (€683 mln).

 

 

The company, which plans to rent back the building with a 30-year term, will be looking to reinvest the proceeds into core areas of its business, rather than having the funds tied up in real estate. The site has been Sky’s home for 27 years.

Early stage discussions on the sale, which was first revealed by Estates Gazette, have begun with several investors and Sky hopes to be able to close the transaction by the end of June.