Reuters logo
Berkeley buys site from News International
May 30, 2012 / 3:57 PM / in 6 years

Berkeley buys site from News International

LONDON (Reuters) - UK housebuilder Berkeley Group (BKGH.L) has bought the former 15-acre east London home of Rupert Murdoch’s British newspapers for 150 million pounds ($233 million), the company said in a statement on Wednesday.

On May 17, a source told Reuters that Berkeley’s St. George unit had beat four other parties to enter exclusive talks with News International, a unit of News Corp (NWSA.O) to buy the site.

News International put its Wapping home up for sale last September, abandoning plans to remodel the site after shutting its News of the World Sunday tabloid in the wake of a phone-hacking scandal.

    The site, renamed “Wapping Village” during the sales process, has been vacant since News International moved staff on its newspapers, including The Times and The Sunday Times, into neighboring offices.

    British housebuilder Barratt Developments (BDEV.L) and developer Cooper Group indicated their interest last year.

    Berkeley also said litigation brought by St George’s former head, Tony Carey, and other parties for age discrimination and unfair dismissal has been settled for 5 million pounds before the start of a three week hearing.

    ($1 = 0.6438 British pounds)

    Reporting by Brenda Goh; Editing by Jon Loades-Carter

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below