Studio complex comes under new ownership as Landsec takes full ownership of MediaCity

dock10 exterior

dock10 has come under new ownership as part of property development business Landsec taking full ownership of MediaCity.

Landsec originally acquired 75% of MediaCity in November 2021, taking investor Legal & General’s 50% and 25% from from fellow developer Peel. It has now bought the final 25% from Peel, making it the sole owner of the complex that includes BBC and ITV offices. As a part of this move, Landsec has also acquired dock10 and a 218-bed hotel on the site. 

It has acquired the holding for £22m plus the assumption of £61m of secured debt, which is a discount on its book price as Landsec has also surrendered the contracted future income from wrapper leases to Peel.

Broadcast Tech understands that day-to-day running of dock10 will stay the same, and this change is not expected to have any effect on the studio.

Landsec and Peel announced a regeneration plan for MediaCity earlier this year, which would create around 3,000 new homes and 800,000 sq ft of commercial space. This will also have no effect on dock10, with it, the BBC, and ITV named as businesses the development will build around.

dock10 was launched in 2012, and has since become home to major productions such as Match Of The Day, University Challenge, Who Wants To Be A Millionaire, and many more. Last year, the BBC extended its deal for studio and post-production services until 2027.

Mike Hood, CEO of LandsecU+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 work, live and enjoy their lives. We look forward to sharing more about our plans in the near future.”