M&G is in exclusive negotiations with Nuveen over funding for its £400m plans for 40 Leadenhall, EC3.
The 905,000 sq ft scheme, also known as Gotham City, has struggled to get going since it got the green light from the City of London’s planning committee in 2014.
Nuveen previously paused its plans in 2016 following the EU referendum as it searched for a prelet of some of the scheme to begin work.
By the end of 2017 a CC-Land led consortium was in talks to buy a majority stake in the development, which led to the start of demolition works at the site. However, this deal subsequently fell apart.
Nuveen and M&G declined to comment. CC Land has been contacted for comment.
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