Deloitte receivers put Gherkin up for sale

by Richard Crump

More from this author

29 Jul 2014

  • Comments
Gherkin Building in City of London

RECEIVERS AT DELOITTE have put the City's iconic Gherkin up for sale up for sale with the landmark building expected to fetch around £650m.

Deloitte's real estate arm and Savills have been jointly instructed to sell 30 St Mary's Axe after the building collapsed into receivership earlier this year.

The building, designed by Lord Foster, will be marketed to buyers across the world, the firm said. Interest is expected from Asian and US buyers.

"For investors, this prime office property provides an attractive combination of stable and reversionary income with opportunities to add value via asset management. The property will appeal to a wide range of domestic and international investors and we are confident of maximising returns to the receivers and creditors," said Jamie Olley, head of City investment at Deloitte Real Estate.

Deloitte partners Phil Bowers, Neville Kahn and Alex Adam were appointed joint fixed charge receivers in April after its owners IVG Immobilien struggledd to pay back its consortium of lenders, defaulting on debt since 2009.

The deal is expected to close by the end of September or the beginning of October.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send


Financial Planner

The Ministry of Defence Surgeon General’s (SG) Finance Department, Lichfield, Staffordshire, Permanent, Full Time, £ £30,008




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.