German fund manager Commerz Real has denied media reports that it is selling the Lloyd's building in London to Chinese insurer Ping An.
German fund manager Commerz Real has denied media reports that it is selling the Lloyd's building in London to Chinese insurer Ping An.
When contacted by PropertyEU, a spokesman for Commerz Real denied that a deal had been struck.
'We have received expressions of interest in the building but we have not decided on proceeding further,' the spokesman said.
The Times newspaper and other media reported that Commerz Real is selling the office building, occupied by UK-based insurer Lloyds and other tenants, to Ping An for £260 mln (€304 mln). CBRE and Savills, according to the reports, are advisors on the deal.
Savills declined to comment and referred all queries to Commerz Real.
The 31,500 m2 building, located at 1 Lime Street, is owned by a closed-end fund managed by Commerz Real. The fund bought the building for £231 mln in 2005.
