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Turner Tidies Up London Property Holdings

LONDON-AOL Time Warner subsidiary Turner Broadcasting is continuing to rationalise its property holdings in London's West End. Both CNN and The Cartoon Network have moved into Turner House, freeing up 49,000 sf for disposal.

By Graham Parker | Updated on September 27, 2001

LONDON-Turner Broadcasting, now a subsidiary of AOL Time Warner, has relocated its CNN and The Cartoon Network brands into its London head office, Turner House, Great Marlborough Street. The move has freed up 49,000 sf of West End offices for disposal.

The Cartoon Network was the first to move, pulling out of 22,050 sf of offices at 18 Soho Square, which it has occupied for the past five years. The lease was surrendered to the landlord, Coal Pension Properties, who granted a new 15-year lease to MWB Business Exchange at a rent of £1.075 million ($1.58 million) per annum, equating to £47.50 ($70) per sf for the offices and £3,000 ($4,400) per annum for each of the 14 car parking spaces.

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