The BBC has appointed Insight, the Land Securities/Trillium bid, as preferred bidder for its proposed property partnership with the private sector (see News story).

Insight will now enter a further stage of detailed negotiations with the BBC, with a view to forming a partnership this summer. The other consortium on the shortlist of two, the Foresite Consortium including Amey Ventures, Barclays Private Equity and Arrowcroft Group, is now officially the Reserve Bidder.

John Smith, BBC Director of Finance, Property and Business Affairs said: “We were very impressed with the quality and diligence of both bidders. They have put in a huge amount of effort and we are very grateful to them. We are confident that Insight has a proposition which is most likely to meet the BBC’s needs, but there is a lot more hard work and negotiation ahead of us. We will complete the deal only if we are satisified it provides best value for the licence fee payer.”

The BBC White City site in London was highlighted as the first project in the proposed partnership (see News story). The Corporation has since announced that its planned redevelopment of Broadcasting House in London (see News story), and its proposed new BBC Scotland HQ at Pacific Quay in Glasgow, could also be developed through the partnership.

In addition to property development, the partnership will manage and operate the BBC’s London and Scottish property portfolios, but the full extent and scope of the partnership is subject to further negotiation.

Richard Byatt