Brookfield and Oxford Properties have agreed a giant prelet agreement from Schroders at One London Wall Place, EC2.
The 310,000 sq ft building, which is due to complete in 2017, will become the firm’s new head office.
A statement issued by Schroders said it had agreed non-binding heads of terms and and signed an exclusivity agreement on the building.
It will consolidate from its existing base of five locations in the City.
Schroders chief executive Michael Dobson said: “Schroders has grown substantially in recent years and One London Wall Place offers us a unique opportunity to consolidate all London employees under one roof, in a modern working environment and in an excellent location.’
Michael Cassidy, chairman of the City of London Corporation’s property investment board, added: “This deal again confirms the City as a major player in the world’s financial stage. We are delighted that Schroders has selected the London Wall site which confirms its desire to consolidate in the Square Mile, with the benefits that a new development can provide. The City is very pleased to be in a position, to assist Brookfield and Oxford Properties, as freeholder.”
One London Wall Place will be a 12-storey, 310,000 sq ft office building, with floors ranging from 9,000 to 40,000 sq ft.
The wider London Wall Place development, of which One London Wall Place forms part, also includes nearly an acre of new public space and a second office building, Two London Wall Place, a 16-storey building providing a further 190,000 sq. ft. of highly efficient space.
The City of London Corporation is the freeholder of London Wall Place.
Jones Lang LaSalle and GM Real Estate are letting agents on London Wall Place.
