• Land Securities Trillium financed and developed White City 2 under a 30 year partnership deal with the BBC (British Broadcasting Corporation), which also covered property services at 48 other BBC locations;
• the bid was ₤210 million, ₤31 million more than the other short listed bid; other benefits were savings across the BBC. Two buildings were completed on time (in October 2003) and the last was ready in January 2004, three months ahead of schedule;
• the BBC purchased Land Securities Trillium's interest in White City 2 in March 2005 to allow refinancing of the project;
• the original contract had included a provision to share in refinancing benefits, but the way the project was financed meant the BBC was unlikely to secure a share in the benefits; and
• the financial mechanism also meant the BBC was unable to calculate the return to shareholders, although the contract included a provision to cap the return at 30 per cent, which was higher than typical rates of return for deals like this.