Wed, 30 Jul 2014 | COMMERCIAL PROPERTY
The iconic Gherkin tower has been placed on the market, a few months after its owners placed the building into receivership after issues with currency meant they ran into difficulties.
The agents, Savills and Deloitte Real Estate, are hoping for offers around £600 million to £650 million, an increase on the £550 million plus expected back in April when it entered receivership.
Marketing for the 505,000 sq. ft. 40-storey City of London site nicknamed the Gherkin, is set to begin and will involve an advertising campaign and dedicated website.
The sale is expected to draw potential buyers “from all corners of the globe”.
Several interested parties have come forward to potentially make bids so far. Stephen Down at Savills said he believes a deal will close by the end of September or start of October. The property has been well cared for and he added that “it’s in very good order”.
Possible buyers may include a sovereign wealth fund from the Middle East or Asia, a private equity outfit or large pension fund.
At present the Gherkin has 20 tenants, including its original owner Swiss Re. Opened in 2004, the building quickly established itself as a familiar part of the skyline, featuring in films such as Basic Instinct 2 and many TV programmes.
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
17
|
Sep
|
Construction materials firm acquires civil engineering contractor | BUSINESS SALE
Fox Brothers Holdings, a private equity-backed construction ...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
22
|
Aug
|
Coastal Dorset development site with planning permission comes to market | COMMERCIAL PROPERTY
A prime coastal development opportunity has been launched to...
28
|
Oct
|
Prominent Cardiff home of fast food chain up for sale for £2.1m | COMMERCIAL PROPERTY
The building on Cardiff’s Queen Street housing the cit...
20
|
Jul
|
JD Wetherspoon seeks buyer for seven sites | COMMERCIAL PROPERTY
Pub group JD Wetherspoon is seeking a buyer for seven of its...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.