Landsec takes full control of MediaCity UK

Landsec acquired the remaining 25% interest that it did not own in MediaCity from Peel Group, plus dock10 and a 218-bed hotel which were wholly owned by Peel.

The acquisition is based on a cash consideration of £22m plus the assumption of £61m of secured debt.

dock10’s studios are home to many of the UK’s top shows, including the BBC’s Match Of The Day and ITV’s The Voice.

Landsec said the transaction provides it with full control of MediaCity and the ability to implement its plans for the estate, plus the potential to deliver new residential space on the land adjacent.

Mike Hood, CEO of Landsec U+I, said: “MediaCity has huge potential. Through our increased ownership, we can curate a place that continues to attract cutting-edge businesses and investment to the area, and where people choose to come to work, live and enjoy their lives. We look forward to sharing more about our plans in the near future.”