News International suspends plans to sell Wapping site

by Staff, Brand Republic 22-Aug-08, 09:00

LONDON - News International is shelving plans to sell its former printworks in Wapping, according to a report in the Daily Telegraph.

The publisher of The Times and The Sun took the decision to suspend plans to sell the 14-acre site due to the sharp downturn in the central London property market.

Developers had devised ambitious plans for a mixed-use development including up to 2m sq ft of housing, retail and office space, for which the media group had expected to attract bids of up to £200m.

But the turmoil in the property market has led News International to abandon the sale and an official announcement is expected within weeks.

The company closed the printworks earlier this year after opening new printing presses in Broxbourne, Hertfordshire.

The site still houses the newspaper offices for the News of the World, The Sun and The Times and Sunday Times, which had been expected to relocate to Waterloo or Canary Wharf.

Comments

Keith Geddes - 22/08/2008

Yes, we have the new `monster` here on the Hertfordshire border.. turn North off Jnct25 of M25/A10 and you cant miss it on the right. Not actually Broxbourne, Waltham Cross, caused lots of residential opposition, and now they are going to widen the A10 to make some sort of improved junction with more traffic lights.. pre planned, no dount. Its been admitted the new plans were kept close to their chests, surprise. Lets face it we cant trust any large concern. Their money will change everything. For the better? Only in the execs pockets.