Swiss Re has agreed to sell its London office building, 30 St Mary Axe to an affiliate of the property developer IVG Immobilien for £600m. The transaction is
expected to close in February 200 …
Swiss Re has agreed to sell its London office building, 30 St Mary Axe to an affiliate of the property developer IVG Immobilien for £600m. The transaction is expected to close in February 2007.
In an announcement this morning, the reinsurer said that a number of potential investors had showed significant interest in the London landmark. A key factor in its decision to select IVG Immobilien, it stated, was the company's track record in managing properties, particularly as Swiss Re will continue to occupy the building as its principal tenant.
Jacques Aigrain, Swiss Re chief executive, said: "Swiss Re is very proud to have built what has become a popular landmark in the City of London. It is an innovative working space, with sound environmental considerations at the heart of its design. In IVG Immobilien we have found a future owner who will maintain and preserve the superior quality of this outstanding property."
30 St Mary Axe, was commissioned by Swiss Re and designed by Foster and Partners. The building opened in late 2003 and has become an iconic landmark on London's skyline.
