M&G is in discussions to acquire Fleet Place House, EC4, for more than £100m from Beijing Capital Development Holding.
Tenants in the 91,955 sq ft office building include law firm Bevan Brittan, Just Eat and Starbucks.
BCDH, also known as Beijing SHOKAI, acquired the 180-year leasehold over the property in 2017 for £96.5m from Grosvenor, which was selling it on behalf of the Grosvenor London Office Fund.
Built in 2000 by Heron International, the building forms the northern entrance to the Ludgate development and City Thameslink station.
BCDH was established in 2005 and also owns 30 Crown Place, EC2, and Friary Court 65 Crutched Friar, EC3, in the UK.
Established in 2005, BCDH also owns 30 Crown Place, EC2, which it acquired from Korea’s Samsung Asset Management in 2017 for around £210m, a net initial yield of 4.2%, and Friary Court, EC3, which it bought from German closed-ended fund manager HIH Global Invest in 2015 for around £67m, a net initial yield of 4.5%.
The Chinese property developer and manager also owns property in China, the United States, the Americas, Australia, Netherlands and Europe.
M&G declined to comment.
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