Land Securities Trillium has won a 30-year property deal with the BBC, which includes financing developments at London's White City.
Under the complex deal, estimated to be worth £500m, Trillium will be responsible for 4m sq ft of property in London and Scotland, as well as the purchase of BBC's White City site.

Trillium was named preferred bidder in March — beating the Foresite Consortium, which included Amey Ventures, Barclays Private Equity and Arrowcraft.

Trillium will invest around £220m and build a 550,000 sq ft development at the west London site.

The BBC will pay £35m per year to Trillium for facilities management and estates strategy. This will increase to £70m when the White City development is completed at the end of 2003.

Trillium chief executive Manish Chande said the deal was 'an excellent opportunity for LS Trillium to push forward the boundaries of property management.'

Source

The Facilities Business