Land Securities has bought the half stake it doesn’t already own in Thomas More Square, in Wapping, for £85.3m, the property firm announced yesterday.
The building was home to News UK, publisher of The Times, Sunday Times and the Sun, until its parent company News Corp moved all of its businesses into new offices at London Bridge, next to the Shard.
The newspaper group moved to Thomas More Square, near St Katharine Docks, in 2011 after selling its Wapping fortress to St George, part of the Berkeley Group for £150m.
Land Securities said it has bought the 50 per cent stake from an affiliate of its joint venture partner the Ontario Teachers’ Pension Plan Board.
The Thomas More Square Estate spans around 4.2 acres and includes six office buildings with retail, leisure and parking space.
The property group is revamping the building News UK occupied and has secured new tenants including market research firm Ipsos MORI and Japanese firm Mitsui.