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M&G Prudential invests £875M in London office project

M&G Prudential is buying and funding the development of the £1.4 billion office project at 40 Leadenhall St. in London for £875 million, The Times (U.K.) reported.

The development signals confidence in the British capital amid Brexit uncertainties, according to the report.

The City of London project, nicknamed Gotham City, will comprise a 14-story building and a 34-story tower with about 900,000 square feet of mostly office space. Construction is expected to commence in early 2020 and completion is expected in 2023.