Murdoch drafts Baby Shard splash

Rupert Murdoch's News International is in negotiations to take the entire "baby Shard" development at London Bridge Quarter, SE1.

The group is understood to be lining up a deal to relocate its vast newspaper empire to the Place, a 428,000 sq ft office block being developed next to the 1,016 ft Shard at London Bridge Quarter, SE1.

The surprise move would be a massive fillip for the central London lettings market and a significant coup for Sellar Property, the developer behind LBQ.

The building has so far attracted interest from corporate giants including Ernst & Young, Ogilvy & Mather and Omincom but has yet to secure a tenant.

The offices at its sister tower have secured three tenant deals, with a further two thought to be in the pipeline, almost a year after completing.

News International's papers the Times, Sunday Times and the Sun are currently based at a range of offices at Thomas More Square, the Land Securities development.

They moved across to the site from the adjacent Fortress Wapping, which is set to be redeveloped into flats by housebuilder Berkley.

News International has lease breaks on much of the Thomas More Square space in 2015.

CBRE and Colliers International are letting agents on the Place; BNP Paribas Real Estate is advising News International.

A spokesman for News International said: “Our lease is due for renewal next year and as a responsible employer we will be exploring all options to ensure our accommodation continues  to meet the needs of our staff and the business as it develops in the future.”

 

See Estates Gazette this weekend for the full story.

 

jack.sidders@estatesgazette.com

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