M&G Prudential Bets on London With $1.1 Billion ‘Gotham’ Project
- Complex at 40 Leadenhall Street will consist of two towers
- M&G says London offers good value relative to other capitals
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M&G Prudential laid down a bet on London’s future as an international financial hub after Brexit, agreeing to bankroll the construction of an office complex that will be one of the largest in the U.K.
The asset manager is investing 875 million pounds ($1.1 billion) to purchase land at 40 Leadenhall Street and build the office project that has been dubbed Gotham City, according to a company statement on Monday. It acquired the site from Alberta Investment Management Corp. and Nuveen Real Estate, which will continue as development manager.