Southwark warns against flat development plans

7th August 2015

Southwark Council has warned Pearson and Nikkei, the new owner of the FT, that the newspaper’s landmark building on the Thames must not be redeveloped for luxury flats. Pearson’s decision not to sell the building along with the newspaper has sparked speculation that it intends to cash in by selling separately to a property developer, but Southwark said it would oppose any such move. Nikkei has agreed a tenancy on commercial terms at the current building, but it is said to be looking for more modern accommodation to continue its transition to digital publishing.

The Sunday Telegraph