M&G signs 20-year lease on new Stirling office development

M&G has signed a 20-year lease with the Stirling Development Agency (SDA) to occupy new offices to be built at the Kildean Business Park in Stirling.The 50/50 joint venture between Stirling Council and Cromwell Property Group is due to begin building the new site soon, with an estimated completion date of 2022.In line with M&G’s goal of reducing its corporate carbon emissions to net zero by the end of 2030, the new building is expected to be rated ‘excellent’ by leading sustainability assessors Building Research Establishment Assessment Method (BREEAM).There are plans for a direct cycle route to the building and on-site facilities will include a cycle hire scheme and electric car charging spaces.Colleagues currently based at M&G’s Craigforth site are due to move to the new building during 2022.Last summer, plans were submitted for the redevelopment of Prudential insurance building in Stirling.Formed in 2017 by the merger of fund manager M&G Investments with savings and investments Prudential UK, M&G manages £339bn worth of assets for more than five million retail customers and more than 800 institutional clients worldwide.In 2019, the company announced a phased move from its current five UK locations to three by 2025, with Stirling and Edinburgh operations at the heart of the strategy.M&G employs 1,300 staff in Scotland out of around 6,000 worldwide.