London’s Norman Foster-designed Gherkin skyscraper, infamous for its various resemblances, has been placed on the real estate market, reports the BBC. After one of the building’s former co-owners, German company IVG Immobilien, filed for insolvency, joint responsibility for selling off the building was transferred to financial firms Savills and Deloitte in April.
Though the companies have announced that they plan to sell the 2004 tower, they refused to set a starting price; instead they’re asking bidders to name a sum. “We could see offers in excess of £650m,” said Stephen Down of Savills to the BBC (about $1.1 billion). The sale will likely make a very handsome profit — the Gherkin cost approximately $240 million to construct. Down explained that the companies have started marketing the building, which currently rents offices to approximately 20 tenant, and are already seeing interest from potential buyers in the Middle East, Far East, and North America. “I suspect there will be an iconic element to this [sale],” said Down. A website is taking registration from interested bidders through August 16, and after a vetting process, the winner will be announced in late September or early October, he added. And that’s how you get out of a pickle.
— Anna Kats (@fortunaviriliis)
Image via Wikimedia Commons.