LONDON, 7 May 2026. Lockton, the world’s largest independent insurance broker, has agreed to take c.250,000 sq ft at 47–50 Mark Lane in the City of London, almost doubling its London footprint; practical completion is targeted for Q1 2029. The agreement represents the largest pre-let in the City of London to date in 2026.
European real estate private equity specialist Benson Elliot, a MetLife Investment Management company, and Hobart Capital Partners have pre-let the entirety of The Mark, a c.250,000 sq ft Grade A office development at 47–50 Mark Lane, to Lockton. The transaction is the largest single occupational pre-let in the City of London in 2026.
Lockton will relocate from the St Botolph Building, its London home since 2010, where it currently occupies approximately 130,000 sq ft. The move doubles its London footprint and establishes a London headquarters for Lockton’s International regions, supporting its businesses outside of North America. The London office of Lockton Re, the global reinsurance business of Lockton, will also relocate to the new office.
The Mark occupies a prominent freehold site in the City of London, with triple frontage overlooking the Tower of London and Tower Bridge. The 12-storey development, designed by 3XN & Orms, will deliver best-in-class office accommodation with significant terracing, high-quality public realm, and market-leading sustainability credentials, targeting BREEAM Outstanding, EPC A, WELL Platinum, and NABERS 5 Stars. Practical completion is targeted for Q1 2029.
The development is being delivered by a joint venture between Benson Elliot, the European real estate private equity arm of MetLife Investment Management, and Hobart Capital Partners, which is acting as development manager.
Knight Frank advised the joint venture on leasing; Newmark & Savills advised Lockton.
EJ Hentenaar, CEO, Lockton Europe, said: “This is an exciting milestone for Lockton and a significant investment in our future. It reflects the support we have from our clients, the talent we continue to attract, and our shared belief with our global network on the importance of having a strong, independent broker in the heart of the vital London insurance market.
“This move underscores our ambition to keep growing and evolving, 20 years after we opened our first European office in London. The Mark will be our own brand-new space where we can thrive, collaborate, and deliver the best for our clients. We’re looking forward to calling it home.”
James Jakeman, Senior Partner, Benson Elliot said: “From the outset, our strategy was to create a best-in-class office scheme in EC3 while actively managing risk through shifting global capital market conditions. Achieving a full pre-let to Lockton ahead of completion is a defining outcome and reflects the strength of the underlying asset and positioning. With leasing secured, we are focused on disciplined execution through to delivery.”
About Lockton
What makes Lockton stand apart is also what makes us better: independence. Lockton’s private ownership empowers its 13,100+ Associates doing business in more than 155+ countries to focus solely on clients’ risk and insurance needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results. For more information, visit www.lockton.com. (opens a new window)
About Benson Elliot
Benson Elliot is a pan-European real estate private equity specialist with two decades of investment experience, deep market knowledge, and in-house operational expertise. In December 2025, Benson Elliot was acquired as part of the acquisition of PineBridge Investments by MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET). Together, the combined business had $741.7 billion in total assets under management as of December 31, 2025 and provides clients around the world with global expertise in public fixed income, private fixed income, real estate, equity, multi-asset solutions and insurance solutions. For further information, see MetLife Investment Management’s Total Assets Under Management fact sheet for the quarter ended December 31, 2025 available on MetLife’s Investor Relations web page (https://investor.metlife.com (opens a new window)).
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), provides tailored investment management solutions to institutional investors worldwide. MetLife Investment Management has long-established global expertise in public fixed income, private fixed income, real estate, equity, multi-asset solutions and insurance solutions and provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2025, had $741.7 billion in total assets under management. For more information, see MetLife Investment Management’s Total Assets Under Management fact sheet for the quarter ended December 31, 2025 available on MetLife’s Investor Relations web page (https://investor.metlife.com (opens a new window)).
Disclosure
PineBridge Investments is part of MetLife Investment Management (MIM), which is MetLife, Inc.’s institutional investment management business. MIM is a group of international companies that provides investment advice and markets asset management products and services to clients around the world. Investing involves risk, including possible loss of principal. The information presented herein is for illustrative purposes only and should not be considered reflective of any particular security, strategy, or investment product. It represents a general assessment of the markets at a specific time and is not a guarantee of future performance results or market movement. This material does not constitute investment, financial, legal, tax, or other advice; investment research or a product of any research department; an offer to sell, or the solicitation of an offer to purchase any security or interest in a fund; or a recommendation for any investment product or strategy. PineBridge Investments is not soliciting or recommending any action based on information in this document. Any opinions, projections, or forward-looking statements expressed herein are solely those of the author, may differ from the views or opinions expressed by other areas of PineBridge Investments, and are only for general informational purposes as of the date indicated. Views may be based on third-party data that has not been independently verified. PineBridge Investments does not approve of or endorse any republication of this material. You are solely responsible for deciding whether any investment product or strategy is appropriate for you based upon your investment goals, financial situation and tolerance for risk.
1As of December 31, 2025. At estimated fair value. Excludes $13.8 billion of General Account AUM that are not managed or advised by MetLife Investment Management, LLC and certain of its affiliates