Trillium will be responsible for facilities management of four million sf of BBC space in London and Scotland. At the same time ownership of the BBC's White City building and development site in West London will transfer to LS Trillium, and Land Securities will develop 550,000 sf of new space on the site to include a broadcasting and playout centre and additional office buildings.
In return, the BBC will pay Land Securities Trillium £35 million ($51 million) per annum rising to £70 million ($102 million) on completion of the new building.
There is also potential to transfer the management of the remaining three million sf of BBC space to Trillium, and the partners are looking at the redevelopment of Broadcasting House in central London and the new headquarters for BBC Scotland at Pacific Quay, Glasgow.
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