Modon Holding announced a joint venture (JV) with Broadgate REIT Limited to develop 2 Finsbury Avenue, a 750,000-square-foot mixed-use project in Broadgate, London. The JV marks Modon’s entry into London’s prime real estate sector.
Under the agreement, Modon will hold a 50% stake in the project, while British Land and GIC will each retain 25% ownership through Broadgate REIT. British Land will remain the development and asset manager for the project.
2 Finsbury Avenue, located in the Broadgate campus in the City of London, will feature dual high-rise towers. The East Tower will rise 36 stories, the West Tower 21 stories, and a 12-story podium will link the two via a 7,000-square-foot winter garden. The development will include green spaces, leisure facilities, and publicly accessible areas.
Construction is underway, with completion scheduled for 2027. The building will be delivered into what British Land expects to be a supply-constrained market, with demand for premium office space outpacing availability.
British Land plans to leverage the partnership to capitalise on rental growth opportunities and drive value creation.
