M&G backs ‘Gotham City’ with £875m

M&G Prudential has backed 40 Leadenhall, EC3, nicknamed Gotham City, with a £875m funding boost. The investment fund purchased the site through its £144bn Prudential with-profits fund from AIMCo and Nuveen Real Estate. The site, which has struggled to get off the ground since it got the green light from the City of London’s planning committee in 2014, has planning permission for two towers of 14 and 34 storeys. Nuveen previously paused its plans in 2016 following the EU referendum as it sought a prelet for part of the scheme before starting work. By the end of 2017, a CC