NEWS Corp has announced that it has signed a thirty year lease at The Place at London Bridge.

The seventeen-storey building which offers 430,000 sq ft of space has been nick-named the “baby Shard” as it sits next to the country’s tallest building in the London Bridge Quarter development. The Place, like the Shard, was designed by architect Renzo Piano.

News Corp will take possession of the offices this summer and move its companies News UK, Harper Collins and Dow Jones to the new headquarters. News UK, which owns the Times, the Sunday Times and the Sun, will be leaving its Wapping offices after 27-years.

The decision to leave famous site in Wapping was first reported in the summer of 2013 but the deal to move south of the river has now been inked by News UK CEO, Mike Darcey, on behalf of News Corp’s UK operations.

News UK CEO Mike Darcey said: “There can be no clearer signal of our determination to secure a sustainable future for the world-class journalism we produce than the commitment we make today. This is a commitment by our company to London and the UK for the next three decades. Our titles will evolve, our relationships with our readers will strengthen and our mission to report, analyse and challenge the world will continue.”

Irvine Sellar, Chairman of Sellar Property, shareholder and developer of London Bridge Quarter said: “We are delighted to welcome News Corp’s UK operations to The Place. The wide range of global brands including The Times, The Sunday Times, The Sun, Dow Jones and HarperCollins, is helping create a dynamic business hub at London Bridge with a strong media flavour.”