LONDON—British Broadcasting Corp. on Monday took the first steps toward selling Television Centre, home to BBC Vision and BBC News, a move that could fetch as much as £300 million ($490 million) at a time when the media organization is under pressure to cut costs.
The corporation initially decided to sell Television Centre in 2007, just before the economic downturn, but only in November appointed commercial property consultants...
The BBC Television Centre in 2007
The  has been placed up for sale by the corporation. Plans to sell the centre originally came forward in 2007 but the BBC only appointed Lambert Smith Hampton, a commercial property consultant, in November of last year. The building which is based in , London was opened in 1960 and is the home of  and .

The BBC stated they were interested in preserving parts of the building while setting up a "hub for creative businesses and a visitor destination."  According to the head of BBC Workplace, , "With high investor demand for commercial property in London and a shortage of landmark sites as distinctive as Television Centre, we anticipate strong competition for both conventional and innovative proposals."

The property has been valued between £150 million to £300 million but is expected to fetch around £200 million.

5000 staff are currently based at the centre which BBC bosses hope to be empty by 2015. The BBC is creating a new development in Salford, Greater Manchester. Several departments including , , and children's shows are moving to Salford while BBC News is being relocated within central London.