Pidgley among bidders for Fortress Wapping
Residential grandee Tony Pidgley is among the bidders vying to buy News International’s “Fortress Wapping” site in east London.
Pidgley’s Berkeley Group is believed to have lodged a bid last Thursday with Rupert Murdoch’s newspaper company to buy the 1m sq ft site, which was put up for sale last November through CBRE.
The agent seeks up to £200m for the site and is thought to have already started shortlisting prospective buyers.
Fortress Wapping is an obvious candidate for a large residential scheme.
The decision to sell was the result of a strategic property review undertaken over the summer by News International.
The company has also been in the news itself because of the recent phone-hacking scandal. At the beginning of this month, former News Corporation chairman James Murdoch resigned his role as chairman of UK satellite broadcaster BSkyB.
News International owns The Sun, The Times, and The Sunday Times but closed News of the World in July last year.