Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.
M&G Real Estate is set to acquire the Financial Times’ headquarters, One Southwark Bridge in London, for £115 million — 28% above the asking price originally set by current owner, Pearson.
Former owner of the Financial Times itself, Pearson sold the newspaper to Japanese firm Nikkei in 2015 but retained ownership of the building. However, it is now selling the site as part of an overall strategy to decrease its property portfolio.
Ben Almond, global head of property at Pearson, says: “This is an important step for Pearson in simplifying its UK property portfolio and becoming a leaner and more efficient company.”
Contracts have now been exchanged, and the sale should be completed by the end of the year. Once the agreement has been finalised, global advertising group WPP will lease the building from M&G, and the Financial Times will return to its former headquarters at Bracken House in the City of London.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.