In one of the biggest investment deals of 2003, a syndicate of Irish investors is poised to pay around ÃÂ£240m for the iconic City headquarters of Lloyd´s of London. The building, on Leadenhall Street, EC3, was put on the market earlier this year by the German open-ended fund, Deka.
Designed by the architect, Richard Rogers, the Lloyd´s building comprises 310,000 sq ft of office space and is one of the best-known buildings within the Square Mile.
In 1996, Lloyd´s sold the building to Deka, known at the time as Despa, for ÃÂ£180m and took a 30-year leaseback. The news that Deka had put the building up for sale had prompted speculation that Lloyd´s would attempt to buy the building back.
However, a Lloyd´s spokesperson this week confirmed that the company was Ã¢â¬Ånot involved in any plans to buy the building.Ã¢â¬Â
The members of the Irish syndicate are as yet unknown. FPDSavills and CB Richard Ellis are acting for Deka.