Merrill Lynch is planning a £600m sale-and-leaseback of its City of London headquarters.

The investment bank has approached a number of parties about the sale of the 827,751 sq ft (76,900 sq m) building at 2 King Edward Street, although it is not yet formally on the market.

It is understood that Merrill Lynch does not regard property ownership as a key part of its business and is looking to take advantage of the strong investment market.

The Merrill Lynch Financial Centre (MLFC) is situated across the road from St. Paul's Cathedral and the London Stock Exchange at Paternoster Square. 

Opened in 2001, the centre is built in part over Roman ruins and incorporates medieval architecture, including the original city wall of London, into the building's design.

The centre also features two of the largest trading floors in Europe, a 150-seat auditorium, and a dedicated client centre.