Financial Times building in London sold
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 £115m (€132m).
The terms of the deal will not impact the newspaper's current lease obligations, with it returning to its former HQ at Bracken House in the City in mid-2019.
Pearson sold the newspaper to Japan's Nikkei in 2015 to focus on its education business.
"This is an important step for Pearson in simplifying its UK property portfolio and becoming a leaner and more efficient company," said Ben Almond, Pearson's global head of property.
Last month Pearson said it was on track for a return to profit growth. It said yesterday its priorities for capital allocation were still a focus on a strong balance sheet, investing in the business, maintaining a progressive dividend and returning any surplus cash to shareholders.