INDUSTRY NEWS

News Corp Signs 30-Year Lease For The Place Office Space In London

Multinational mass media company News Corp has signed a 30-year lease for new office space in London.

The company has agreed terms for The Place, a seventeen-storey property situated in the London Bridge Quarter. It provides 430,000 sq ft of office space and has been dubbed the ‘baby Shard’ by many in recognition of its positioning, right next to the UK’s tallest building – The Shard.

Like The Shard, The Place was also designed by renowned Italian architect, Renzo Piano. News Corp will officially move to the building in the summer (2014), with its companies News UK, Dow Jones and publishing firm Harper Collins also making the move to the new headquarters.

News UK’s move to the building marks the end of its 27-year stay at its offices in Wapping. It owns the likes of the Times, the Sun and the Sunday Times.

Although plans to move to The Place were originally announced in July last year (2013), the deal has only just been signed by News UK CEO Mike Darcey – acting on behalf of News Corp’s UK operations.

Commenting on the deal, Mr Darcey, stated: “There can be no clearer signal of our determination to secure a sustainable future for the world-class journalism we produce than the commitment we make today. This is a commitment by our company to London and the UK for the next three decades.

“Our titles will evolve, our relationships with our readers will strengthen and our mission to report, analyse and challenge the world will continue.”

By: Kirsty MacGregor

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