The Lloyd's building is to be sold to a privately owned Irish property group, according to reports.

Shelbourne Development had agreed terms on a deal worth about £245m, the Financial Times said.

The Lloyd's building is to be sold to a privately owned Irish property group, according to reports.

Shelbourne Development had agreed terms on a deal worth about £245m, the Financial Times said.

The building is owned by German investment fund Deka and let to the Society of Lloyd's under an agreement expiring in 2031.

The premises on London's Lime Street were designed for Lloyd's by Richard Rogers - now Lord Rogers of Riverside - and were officially opened in November 1986.

Deka reportedly put the building up for sale in November after paying £186m for it in 1996.