Standard Life invests in Southwark

Thu 12 February 2015, 2:29 pm

Standard Life has entered into a sale and leaseback deal with architect Allies and Morrison, after the investor purchased the building for around 30 million.

The contract means the architect has agreed to continue to occupy the 3,020sq m office building for a further 15 years.

According to the industry website, Property Week, Allies and Morrison will use the money raised to expand its operations. The architect has completed projects in Germany, Holland, India, Lebanon and Qatar, as well as being the designer behind London schemes in King’s Cross, Bishopsgate and Canary Wharf.

The building is also used for studios, design space, lectures, exhibitions, film screenings and music concerts. It won the Royal Institute of British Architects London Building of the Year award in 2004.