CBRE Investment Management Reaches Full Occupancy at 10 Gresham Street With 32,403-Square-Foot MetLife Investment Management Lease
CBRE Investment Management has secured MetLife Investment Management as the final occupier at 10 Gresham Street, a comprehensively refurbished Grade A office building in the City of London, the firm announced Aug. 19. The lease brings the 251,000-square-foot building to full occupancy, completing CBRE Investment Management's repositioning and leasing strategy for the asset.
MetLife Investment Management, the institutional asset management business of MetLife, Inc., signed a 10-year lease for the entire third floor, comprising 32,403 square feet. Knight Frank and Cushman & Wakefield advised CBRE Investment Management on the transaction. Cushman & Wakefield also advised MetLife Investment Management.
Building Profile and Refurbishment
Originally designed by Foster + Partners, 10 Gresham Street has been comprehensively refurbished to create a high-performance workplace. The building is located in the core City of London office cluster near Bank and St. Paul's, with access to multiple Underground and mainline stations including Bank, St. Paul's and Cannon Street.
The refurbishment preserved the building's existing structure and facade, saving approximately 17,000 tonnes of carbon dioxide through recycling and repurposing of materials. Key features include an eight-storey glazed atrium, communal rooftop facilities with panoramic views across the City, and extensive cycling and wellness amenities.
Following the refurbishment, 10 Gresham Street is targeting BREEAM Outstanding, WELL Platinum and an EPC B rating, with embodied carbon levels described as significantly below the RIBA 2030 target.
Leasing Context: Moody's Anchor and Full Occupancy
The MetLife Investment Management lease follows CBRE Investment Management's earlier letting to Moody's, which committed to more than 110,000 square feet at the building and relocated its European headquarters to 10 Gresham Street. The MetLife Investment Management deal fills the last available floor, bringing the building to full occupancy.
Louisa Butters, Head of UK Urban Destinations at CBRE Investment Management, said the transaction reflects continued occupier demand for high-quality, sustainable office space in the City of London. "The building's successful repositioning demonstrates that occupiers continue to prioritise high-quality, sustainable workplaces that support employee wellbeing and collaboration," Butters said. "We are delighted to welcome MIM to the building and to have achieved full occupancy following the completion of this transformative refurbishment."
MetLife Investment Management's Strategic Rationale
Mick Sweeney, Head of MetLife Investment Management, EMEA, said the firm intends to use 10 Gresham Street as the hub for its integrated business and investment capabilities in London. "By bringing colleagues together in a single location in the City of London, we will strengthen our client culture and support the continued growth of our business," Sweeney said.
MetLife Investment Management's move consolidates the firm's London operations at a single City of London address, positioning the building as the base for its broader EMEA business expansion.
Market Conditions and ESG Positioning
The leasing activity at 10 Gresham Street reflects broader dynamics in the City of London office market, where demand for best-in-class, sustainable space has remained resilient. Central London office vacancy stands at approximately 7 to 8 percent, with the City submarket at roughly 7.0 to 7.2 percent, and prime rents in the City have reached the £95 to £100-plus-per-square-foot range.
CBRE Investment Management's approach at 10 Gresham Street — deep refurbishment rather than demolition and rebuild — is consistent with a broader City trend aimed at minimizing embodied carbon while delivering Grade A specifications and premium amenities. The building's ESG credentials, including its BREEAM Outstanding and WELL Platinum targets and its approximately 17,000-tonne carbon saving, have been central to CBRE Investment Management's leasing strategy for the asset.
CBRE Investment Management manages $154.8 billion in assets under management as of June 30, 2026, and operates in 20 countries. The firm is an independently operated affiliate of CBRE Group, Inc.
Sources
CBRE Investment Management Press Release — 10 Gresham Street Full Occupancy