The global asset management business aims to deliver around 175,000 sq ft of office and retail space over ground and 10 upper floors, subject to planning approval.
The new building will be located opposite the new Liverpool Street Elizabeth line eastern station entrance as well as above the Crossrail infrastructure.
“This is undoubtedly one of the best development sites in the City of London and we are excited to continue our partnership with TfL,” said James Stevens, head of development and global real estate at Aviva Investors.
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“Having the opportunity to develop top quality buildings immediately above the east and west entrances to Crossrail Liverpool Street is both unique and exciting.
“This transaction marks another significant step in repositioning the Aviva Investors Real Estate portfolio for growth and is set to benefit from a rapidly evolving City of London.”
Graeme Craig, director of commercial development at TfL, added: “This site in the heart of London offers the potential for fantastic new office and retail space, supporting the city’s growth, and we are pleased to have concluded this transaction with Aviva Investors.
“As a key part of our huge development pipeline, the Elizabeth line schemes are directly opening up opportunities for new homes and jobs and will raise vital revenue to reinvest in London’s transport network.”