Wildstone consultancy, which also brokered deals for outdoor premium sites including One Piccadilly, Brentham Power Station, The Chiswick Towers and Euston Underpass, has kick-started the hunt for TDK's successor.
The 101.3m² screen at the centre of Piccadilly Lights, which is owned by the UK’s largest property company Land Securities, is being marketed as a rare opportunity for advertisers to secure such prestigious space for their brand, with valuations in the region of £4m per year being bandied around.
The Piccadilly lights has been a feature of the capital for more than 100 years and has played host to a number of the world's largest and best-known brands including Schweppes, BP, Cinzano, Fujifilm and Kodak.
Research suggests the full motion screen, which measures 21.1m x 4.8m and is situated on the prominent display, benefits from two million people pass through Piccadilly Circus every week.
The Piccadilly Circus sign is one of four long-term ad sites, which include Times Square in New York, the Ginza 4-chome crossing in Tokyo and Shanghai, China.
Damian Cox, chief executive of Wildstone, said: "While it feels like the end of an era to see TDK leave the site, we expect a number of world famous brands will jump at the opportunity to claim the site as their own, possibly for decades to come."
Vasiliki Arvaniti, portfolio manager at Land Securities London, said: "Piccadilly Lights is a unique and exciting asset within our Central London portfolio and one which we’re continually investing in, for example through the installation of innovative new LED screen space at the end of last year.
"Opportunities to advertise only come along now and again, so we look forward to finding out which brand will be the next to, quite literally, see its name in lights."
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