M&G Real Estate and Nomura Real Estate Development have teamed up for a new £200m mixed-use scheme in London’s Fitzrovia.
The pair will deliver a 86,370 sq ft mixed-use scheme on Tottenham Court Road, WC1.
Peter Riley, head of capital solutions and UK commercial at M&G Real Estate, said: “This joint venture is a clear sign that the central London office market is here to stay. Crossrail has made central London more accessible than ever, spurring much-needed transformational investment into the area.”
He added that the firm would be “targeting further selective opportunities to invest alongside leading real estate investors across the globe, to improve the built environment and deliver world-class real estate investment propositions of scale”.
M&G will be retained as asset manager of the Fitzrovia, which the joint venture hopes to complete in Q3 2024.
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