BBC sells Oxford Road site

The BBC has confirmed that it has agreed a deal for its site at Oxford Road in Manchester city centre with entrepreneur Yousef Tishbi’s Realty Estates.

A figure for the deal has not been disclosed, but reports put it at around £10m. Manchester-based Realty Estates was one of four bidders for the site, alongside Bruntwood, Greater Manchester Property Ventures Fund and Liverpool-based Downing Developments.

The site currently houses around 327,000 sq ft of offices and studios on a 5.4-acre footprint of land. The BBC is vacating the site later this year to move onto Peel Holdings’ MediaCity:UK site with other national BBC departments including Radio Five Live, Children’s, Sport, Learning and its Future Media & Technology division.

A statement from the broadcaster said: “Following a period of open marketing the BBC has exchanged contracts for the sale of its Oxford Road site in Manchester to Realty Estates.”

The BBC was advised on the disposal by Lambert Smith Hampton.