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Refurbishment in the medium term

Contractor for SW1 scheme

Letting for City scheme

Asticus submits Cornhill scheme

Your chance to own Gherkin

The Gherkin (otherwise 30 St Mary Axe) in London, EC3, has been acquired by IVG Asticus, the German fund, and Evans Randall, the private investment bank, from Swiss Re for about £630m, and initial yield of around 4.25%. IVG is thought to be making its 50% stake open to private investors and Evans Randall will place its stake with institutional investors. Both firms are understood to be retaining a 10% stake. - (06-02-2007)

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Swiss Re talks to IVG Asticus

Swiss Re is said to be in exclusive talks with IVG Asticus, the German property group, to sell 30 St Mary Axe, 'the Gerkin", in London, EC3. The reinsurer is thought to have had over 50 expressions of interest in the buildng and the present deal could be finalised in early 2007. Offers are believed to have almost reached £600m. - (05-12-2006)

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Work starts on 71 Lombard Street.

Work has now gotten underway on the redevelopment of 71 Lombard Street, London EC3. The building is being renovated by IVG Asticus, which is acting as construction manager and appointed sub contractors for the building work, and should be ready to occupy during early 2007. When completed, the building will provide approximately 12,000 sq m (129,168 sq ft) of offices on floors 1-8 and 3,716 sq m (40,000 sq ft) of retail on the ground and mezzanine floors as well in the basement. The letting agents for the offices are DTZ and Savills and DTZ and Cushman are the agents for the retail. - (08-03-2005)

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