40 Leadenhall Street, LondonTransatlantic Firm Advises On £875M Plan For 'Gotham City' London Skyscraper
M&G Prudential is set to develop a new 905,000 square foot office complex at 40 Leadenhall Street.
October 09, 2019 at 09:57 AM
2 minute read
Hogan Lovells has picked up a mandate advising on a new major London skyscraper development worth £875 million.
The planned development by investor M&G Prudential has been dubbed 'Gotham City', and has permission for two towers, allowing for 14 and 34 storeys of predominately office space at 40 Leadenhall Street.
Hogan Lovells is advising M&G Prudential. It is fielding a team led by head of U.K. real estate Daniel Norris and includes corporate partner Sian Owles, construction partner Gillian Thomas and tax partner Elliot Weston.
The deal was structured by M&G Prudential's commercial property arm, M&G Real Estate, a leading financial solutions provider for global real estate investors.
Hogan Lovells advised M&G Real Estate in 2013 on its £315m acquisition of London's Bankside development from Land Securities Group.
Global head of M&G real estate Tony Brown said in a statement: "London's commercial property market currently offers good value relative to other capital cities such as Paris and Tokyo, partly due to Brexit-related uncertainty.
"As there are a limited number of developments underway in London, we expect high-quality office space like this with an emphasis on green credentials and employee wellbeing to be in demand from occupiers when the scheme is completed in four years."
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