UK’s Pearson sells FT building to M&G Real Estate for 115 mln stg

UK’s Pearson sells FT building to M&G Real Estate for 115 mln stg
15/11/2018 , by , in INTERNATIONAL

British education publisher Pearson is selling its property at One Southwark Bridge in London, the current home of the Financial Times newspaper, to M&G Real Estate for 115 million pounds ($149 million), it said on Wednesday.

Pearson and M&G have exchanged contracts with a target of completing the deal by the end of 2018.

The terms of the deal will not impact the Financial Times’ current lease obligations, with the newspaper returning to its former headquarters at Bracken House in the City of London in mid-2019.Pearson sold the newspaper to Japan’s Nikkei in 2015 to focus on its education business.

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