Two of the UK’s largest property fund managers have agreed terms to join forces. The £11bn merger between Aberdeen Asset Management and Standard Life will create a huge firm that will oversee assets in excess of £600bn.

The new property giant will be headquartered in Scotland, and it is expected that the board will comprise equal numbers of both Standard Life and Aberdeen directors. It will also carry both the Aberdeen Asset Management and Standard Life names.

Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, says: “The merger gives scope for engaging competitively priced active management in a time of uncertainty.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.