Irish syndicate to buy £240m Lloyd´s building

In one of the biggest investment deals of 2003, a syndicate of Irish investors is poised to pay around £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 £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 “not involved in any plans to buy the building.”

The members of the Irish syndicate are as yet unknown. FPDSavills and CB Richard Ellis are acting for Deka.

Related News