Spanish property company Metrovacesa said it has reached an agreement with UK fund manager Legal & General that will allow the Madrid-based firm to advance the development of one of the largest City of London office schemes. In a statement to the Spanish securities regulator, Metrovacesa said late on Monday that the agreement with L&G is expected to end a legal dispute regarding the payment for London's Walbrook Square complex. The new agreement sets 31 October as the new payment date for the 88,000 m[sup]2[/sup] office complex, which the Spanish firm bought in September for £240mln (EUR 350mln).
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