Member Article

Royal Mail confirms potential £200m sorting office sale

Rumours that the Royal Mail is looking to sell off part of its massive Mount Pleasance sorting office have been confirmed after the postal firm released a statement saying it was in discussions about a possible sale.

The deal could see part of the historic site in Islington, which was previously one of the largest sorting offices in the world, sold for around £200m with Taylor Wimpey touted as a possible suitor.

In a statement reported by City AM, Royal Mail admitted that it was in talks about a deal for part of the site, which has been earmarked for residential and commercial redevelopment, but remained tight-lipped over timescales or figures.

It said: “The discussions are ongoing and there is no certainty as to when or whether any transaction will be agreed.”

Located on a 12-acre estate in London, Mount Pleasance sorting office has stood on the site in some capacity since its official opening in August 1889 where it replaced the former Coldbaths Fields Prison.

If it goes through, the sale would mark yet another £100m+ property disposal from the centuries old brand which recently disposed of a pair of plots in the huge Nine Elms development area for £101m.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →