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| Commerz Real sells the Lloyds Building in London to Chinese Insurer A German Closed End Fund managed by Commerz Real, advised by Savills and CBRE, has confirmed the sale of The Lloyds Building at One Lime Street, London EC3 to China's leading insurance company, for £260 million reflecting a net initial yield of c. 6.1%. The transaction represents the first purchase by a Chinese insurance company in the UK. The Lloyds Building, a landmark property designed by Richard Rogers, is home to the world's leading insurance market and let in its entirety to the Society of Lloyds on a lease expiring in 2031. Commerz Real purchased the building in 2005 for £231 million. write your comments about the article :: © 2013 Construction News :: home page |