Rupert Murdoch's News International says it will sell its complex in the east London area of Wapping.
The company says it will relocate to another area in east London.
In Monday's statement, the company says that "current market conditions" led to a decision "not to proceed with remodeling the Wapping site."
The scandal-hit British newspaper arm of Murdoch's global empire has been shaken by allegations of illegal behavior at its now-defunct News of the World tabloid.
More than a dozen of its former journalists and executives have been arrested over claims that they systematically intercepted mobile phone messages and illegally paid police for tips.
The News International's Wapping-based staff will be relocated into neighboring Thomas More Square by the end of the year.