Cadillac Fairview favourite to buy White City Place

Cadillac Fairview is understood to be favourite to acquire White City Place from Stanhope, Mitsui Fudosan and AIMCo, beating off competition from the likes of GIC and Great Portland Estates. The Canadian pension fund manager was last active in the UK in 2014, when it sold its 50% share in Thomas More Square to Landsec for £85.3m. Stanhope, Mitsui Fudosan and AIMCo put its lease, which runs until 2035, over White City Place up for sale with Eastdil Secured for around £250m. The sale comprises six buildings – the WestWorks, MediaWorks, the Garden House, Television Centre, Energy Centre and Lighthouse building. Tenants include the BBC, ITV Studios, YOOX Net-A-Porter, The Royal College of Art and Huckletree. Since 2015, Stanhope, Mitsui Fudosan and AIMCo have turned Television Centre into 432 flats and new office space at the site and refurbished the WestWorks, MediaWorks and the Garden House. The scheme is at the heart of an ambitious £8bn, 110-acre regeneration of the wider White City area, which has been designated a development opportunity area by Hammersmith and Fulham Council. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette