Lockton, an independent insurance broker, has prelet the 250,000 square feet at The Mark building in the City of London from Benson Elliot, a European real estate private equity specialist, and Hobart Capital Partners.
The building is a Grade A office development at 47–50 Mark Lane and is set to complete by the first quarter of 2029.
As part of the deal Lockton will nearly double its office footprint when it relocates from its 16-year home at the St Botolph Building where it occupies around 130,000 square feet. The offices at The Mark will then serve as the company’s new London headquarters for its international regions and supporting its work outside North America.
This will include the relocation of Lockton Re, its global reinsurance business.
The Mark will span 12 storeys of offices and terraces developed through a joint venture between Benson Elliot, a MetLife Investment Management company, and Hobart Capital Partners, which is development manager.
It sits on a freehold site in the City facing the Tower of London and Tower Bridge and will also provide new public realm as part of the 3XN and Orms-designed scheme. The building is targeting top sustainability credentials including, BREEAM Outstanding, EPC A, WELL Platinum and NABERS 5 Stars.
Knight Frank advised the joint venture on leasing. Newmark and Savills advised Lockton.
The deal marks another large leasing transaction that has taken place this year in an active first quarter of 2026 in the London leasing market.
“Appetite for large units in London returned with a vengeance in 2025, having dipped significantly in the previous year. Almost 4 million square feet of deals larger than 100,000 square feet were signed, the highest since before the pandemic. The trend has continued into 2026, with over 1.2 million square feet of large deals signed so far this year,” said Patrick Scanlon, senior director of market analytics at CoStar.
EJ Hentenaar, chief executive, 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.”