The headquarters of the Financial Times has been sold for £115m ahead of the newspaper’s move back to its former home next year.
Former FT owner Pearson has agreed the sale of the One Southwark Bridge building in London with M&G Real Estate.
The exchange of contracts has taken place with a target completion date of the end of the year.
The terms of the deal will not affect the FT’s current lease obligations, education publisher Pearson said in a statement.
The FT will move to Bracken House in the City of London in the middle of next year, following an extensive refurbishment of the building.
The newspaper first moved to Bracken House in 1959 before relocating to Number One Southwark Bridge in 1989.
Pearson sold the FT and the Economist to Japanese media firm Nikkei in 2015, but the deal did not include Pearson’s 50 per cent stake in the Economist or the One Southwark Bridge office.
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