British multinational advertising and public relations company WPP PLC is in advanced discussions for the purchase of the Financial Times' London headquarters at One Southwark Bridge for £93 million, according to Property Week.

Seller Pearson PLC had planned to place the asset on the market this week, after setting an asking price of £90 million, but postponed the process due to negotiations with WPP, the publication reported Oct. 16, citing a source close to the deal.

WPP plans to occupy the building after the newspaper vacates it in 2019 to relocate to its former offices at Bracken House in the City of London.

JLL and Knight Frank are handling the sale for Pearson.