The publisher of The Times and The Sun took the decision to suspend plans to sell the 14-acre site due to the sharp downturn in the central London property market.
Developers had devised ambitious plans for a mixed-use development including up to 2m sq ft of housing, retail and office space, for which the media group had expected to attract bids of up to £200m.
But the turmoil in the property market has led News International to abandon the sale and an official announcement is expected within weeks.
The company closed the printworks earlier this year after opening new printing presses in Broxbourne, Hertfordshire.
The site still houses the newspaper offices for the News of the World, The Sun and The Times and Sunday Times, which had been expected to relocate to Waterloo or Canary Wharf.
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