In early 2022, we agreed a a joint venture with Ontario Teachers' Pension Plan, finalising an agreement to buy 70 Gracechurch Street, a prime office building situated in the City of London. The property offers a rare combination of attractive day one yield running into a significant 600,000 sq ft development opportunity.

The site is currently occupied by a 10-storey building leased by Marks & Spencer and AXA-owned insurer XL Catlin with existing planning consent for a 34-storey tower offering.