M&G plc signs lease at Kildean

M&G plc 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 SDA, a 50/50 joint venture between Stirling Council and Cromwell Property Group, is due to begin building the new site in early 2021, with an estimated completion date of 2022.

Staff currently based at M&G plc’s Craigforth site are due to move to the new building during 2022.

SDA director David Lawrence said:“we are confident this will lead to further office occupiers choosing Kildean as their future office location, with the area appealing to a wide range of companies from financial services to life sciences.”

Stirling Council Leader, Cllr Scott Farmer, said:“this is fantastic news which underlines Stirling’s reputation as a prime location to attract and retain business investment.

“Prudential UK, now part of M&G plc, has played a cherished part of the fabric of this city since 1997 and this commitment to a further 20 years will open up even greater employment opportunities for the people of Stirling.

“With the COVID-19 pandemic creating such uncertainty over business and employment, this decision will come as a massive relief to many local families and we are delighted to see this continued and inclusive economic development secured for the area.”

The new building is expected to be rated in the top 10 per cent of new non-domestic buildings in the UK for sustainability, with plans for a direct cycle route to the building and on-site facilities including a cycle hire scheme and electric car charging spaces.

Clare Bousfield, chief finance officer at M&G plc, said:“because of the quality and number of talented individuals in the finance and technology sectors, Scotland remains an important source of talent for M&G plc. The new office will provide a sustainable working environment, where we can better collaborate to deliver exceptional outcomes for our customers and clients, as we adopt more flexible and digital-first ways of working.”

M&G plc was formed in 2017 by the merger of leading global fund manager, M&G Investments, and savings and investments giant Prudential UK. In 2019 it announced a phased move from its current five UK locations to three by 2025, with Stirling and Edinburgh operations at the heart of its strategy.

M&G plc employs 1,300 staff in Scotland out of around 6,000 worldwide.