UK housebuilder Berkeley Group has bought the former 15-acre east London home of Rupert Murdoch's British newspapers for £150 million, the company said.
On May 17, a source told Reuters that Berkeley's St George unit had beat four other parties to enter exclusive talks with News International, a unit of News Corp to buy the site.
News International put its Wapping home up for sale last September, abandoning plans to remodel the site after shutting its News of the World Sunday tabloid in the wake of the phone-hacking scandal.
The site, renamed Wapping Village during the sales process, has been vacant since News International moved staff on its newspapers, including The Times and The Sunday Times, into neighbouring offices.
Barratt Developments and developer Cooper Group had indicated their interest last year.
Berkeley also said litigation brought by St George's former head, Tony Carey, and other parties for age discrimination and unfair dismissal has been settled for £5m before the start of a three-week hearing.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article