LLOYD’S BUILDING SOLD TO COMMERZBANK FOR £231M

German bank Commerzbank has bought the Lloyd’s of London building from DekaBank Deutsche Girozentrale for £231m, ending a 17-month period that the building has been on sale to a variety of potential purchasers. DekaBank paid £180m for the building in 1996. which was originally opened in 1986. CommerzLeasing, through which Commerzbank is purchasing the property, said that it was “a very famous, marketable property with high renter stability”. Ireland-based Shelbourne Developments abandoned plans to buy the building last June, claiming that a survey had revealed so-called “concrete cancer” in some samples. DekaBank said that the building had been given a clean bill of health in December and that it, not Shelbourne, had called off the talks.