ITV building nears a sale

GREAT Portland Estates is in the final stages of talks to buy the London headquarters of ITN News for about £140m, sources familiar with the deal said.

The property would represent the London-based office developer’s largest-ever purchase. It was not clear whether Great Portland is acting alone or is bidding with a partner.

A Great Portland spokesman declined to comment.

The 293,000 sq ft at 200 and 214 Grays Inn Road, Farringdon, generates annual rent of £8.9m said Jones Lang LaSalle, which is selling the site. It represents a yield of about 6.4 per cent.