Realty Estates buys New Broadcasting House

Manchester-based Realty Estates has bought the BBC site on Oxford Road for an undisclosed sum.

The 5.4-acre site is due to be vacated at the end of the year, as staff from the BBC will move to their new home at Media City in Salford Quays.

Realty Estates is the property company belonging to Iranian-born Yousef Tishbi.

Peter Skelton, strategic development director at LSH Manchester, who acted on behalf of the BBC in the deal, said: "We've exchanged contracts but can't disclose how much it has been sold for. Realty Estates will be releasing proposals for the site in due course.

"The site was in the market place for some time and a shortlist of developers was drawn up in January which included Bruntwood, the Greater Manchester Property Venture Fund, Downing Developments as well as Realty Estates. Nobody acted on behalf of Realty in the deal."

LSH was advising the BBC for the past two years on the development options for the site.

Skelton previously told Place that the site is suitable for a number of uses, including offices, hotels, retail, leisure, and residential accommodation, student housing, and car parking.

Any future redevelopment would not be completed until 2013 due to the site still being operational.

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