Slaughter and May and Orrick Herrington & Sutcliffe have advised on ITV’s £56m acquisition of the freehold on London Television Centre, the company’s South Bank headquarters and studios.

Slaughters advised long-term client ITV on the deal, which saw the company acquire the site from Coal Pension Properties (CPP). The transaction frees ITV from a 56-year lease on the 22-storey tower and studio complex which was purpose built in the early 1970s for London Weekend Television.