Savills, Knight Frank and Cushman & Wakefield have been appointed as joint agents on the redevelopment at 40 Leadenhall Street, EC3, by M&G Real Estate.
The site, nicknamed Gotham City, has permission for the development of two towers, rising 14 and 34 storeys, to house 905,000 sq ft of office space.
The new buildings’ carbon emissions will be 30% below current regulations and are expected to achieve a BREEAM Excellent rating.
Construction is due to start in March, with completion expected by September 2023.
The news follows the £875m acquisition of the scheme by M&G through its £144bn Prudential with-profits fund, on behalf of the fund’s 5m UK policyholders.
M&G said the deal provides its “clients and customers with good-value exposure to the central London office market, which offers strong value in comparison to other global cities such as Frankfurt, Paris and Tokyo”.
Martin Towns, head of UK commercial and global capital partnerships, at M&G Real Estate, said: “Following the signing of the build contract with Mace and the commitment to start construction in March this year, the appointment of the leasing agents takes the project at 40 Leadenhall Street into an exciting new phase.
“We expect a landmark development such as this – committed to providing best-in-class occupier amenity with an emphasis on employee wellbeing and sustainability – to be greatly in demand from occupiers seeking to grow their businesses and attract and retain the very best talent.”
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