ITV vacated the London Television Centre site between Waterloo and Blackfriars bridges earlier this year to let construction start on the major new project.
But the broadcaster has now confirmed it will no longer be continuing with its five-year redevelopment plan, having taken the decision to stay put in what were temporary offices in Holborn and White City.
The move comes after ITV’s new chief executive Carolyn McCall unveiled plans to cut costs as part of a strategy overhaul in July.
A spokesperson said: ’Since the original decision to redevelop the South Bank site ITV has launched its new strategy and has successfully moved to new office space in Holborn and studios in W12. These provide excellent modern, functional and flexible working environments.
’ITV needs to ensure that its property portfolio in London supports the new strategy by giving flexibility to continue to grow, while supporting our ambition to be an agile and increasingly digital organisation.’
Hopkins’ plans to demolish CH Elsom & Partners’ 1974 London Television Centre and replace it with two towers of 31 and 14 storeys were approved by Lambeth Council earlier this year.
The scheme would have provided about 44,400m² of offices, 3,600m² of television studios, 210m² of retail space and 213 homes on the high-profile plot.
Conservationists had raised concerns over the project, with objections from The Twentieth Century Society over its height and Historic England, which warned of an impact on views of St Paul’s Cathedral from Westminster Pier.
But planning officers recommended approval of Hopkins’ proposals arguing a ’slightly adverse impact’ on the view of St Paul’s due to ‘loss of sky’ would be outweighed by the scheme’s public benefits.
Hopkins has been approached for comment.