The Bermondsey Yards complex will comprise two adjacent sites that include existing commercial buildings on Bermondsey Street and a former leather warehouse.
The scheme, which is being co-developed alongside Sellar, will create a mixed-use office campus alongside a set of retail facilities.
Daniel McHugh, managing director of real estate at Aviva Investors, said: “Our objective is to create an office campus that not only provides best-in-class facilities for its customers, but which is also environmentally sustainable, as we continue to decarbonise our portfolio and support the transition to a low-carbon economy.
“We believe this should ultimately offer a good degree of resilience in the portfolio over the long-term.”
The development intends to “embrace the new ways of working” through a focus on flexible spaces and spacious environments.