M&G Investments is planning to relocate to new London headquarters to be developed at 10 Fenchurch Avenue, EC3.
M&G has secured a 20-year lease on the building designed by Eric Parry Architects. The design has already won an award at the 2012 World Architecture Festival.
On the building’s completion, expected towards the end of 2018, M&G will occupy 11 of the 13 floors of office space totalling 322,686 sq ft.
Development of the site will be undertaken by Generali Real Estate, part of the European insurer Generali.
Michael McLintock, chief executive of M&G, says: “This new building will enable us to bring together our London businesses under a single roof in premises that have been designed to meet the highest property standards.”
Lead adviser on the deal, Alex Jeffrey, chief executive of M&G Real Estate, adds: “10 Fenchurch Avenue was always our preferred location because of the quality of the site and its transport links. This building also gives us the option for further expansion on a single site if necessary.”