Swiss Re has confirmed that is has entered exclusive talks with one potential buyer to sell 30 St Mary Axe.

While the group did not provide details of the other party, the Sunday Times claimed that it was IVG Immobilien AG, a real estate investor based in Germany. The paper reported that a price of some £600m had already been agreed for the building.

Swiss Re did however add that it expects the negotiations to be closed by early 2007 and stressed that despite the planned sale of its iconic building it remained fully committed to London as one of the most important global centres for the financial services industry. As such, it will continue to occupy the building as its principal tenant for the foreseeable future.

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