INDUSTRY NEWS

Iconic London office building up for sale

Globally recognisable London office, The Gherkin, has been put on the market with offers estimated to reach in the region of £650m.

The decision to put one of the most iconic buildings in London’s skyline up for sale comes after the Gherkin was placed into receivership earlier this year. This was in no fault of the structure of the building but after one of  its owners was put into insolvency, meaning loan payments were defaulted.

With its prime location, in the centre of London’s financial district, it is expected that there will be a plethora of potential buyers from around the globe expressing their interest in the 505,000 sq ft building.

ION Trading, Swiss Re and International LLP are just a few among the 20 current occupants which let the 41-storey office tower.

Formally known as 30 St Mary Axe, the Gherkin was commissioned by Swiss Re, designed by architect Lord Norman Foster and opened in 2004. At 180 metres tall, the Gherkin is the second tallest building in the city of London. Over the years, the Gherkin has won many awards including the Stirling Prize for its unique and energy efficient design.

The Canary Wharf headquarters of HSBC, also designed by Foster was put up for sale in April this year for £1.1bn.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.