Goldman Sachs has agreed to sell its new European headquarters in London to South Korea’s National Pension Service for £1.17bn, before moving staff to the site next year.
As part of the agreement, the US banking giant will leaseback the building, which is still under construction, for an initial period of 25 years.
The bank also announced it would build the 1.1 million square foot office, called Plumtree Court, in February 2017, even as it and other global banks grappled with the risks of Brexit.
“The development of Plumtree Court and our signing of a long-term lease demonstrates our continued commitment to London and our European operations more broadly,” said Richard Gnodde, vice chairman of Goldman Sachs and CEO of Goldman Sachs International, in a statement.
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