CBRE wins mandate to manage the Gherkin

CBRE, the global property advisor, has been appointed to manage the Gherkin by landlord 30 St Mary Axe (Bermuda) LP, a joint venture between IVG EuroSelect 14, a closed-end fund managed by IVG Private Funds Management GmbH, and Evans Randall as one of the world’s most iconic commercial buildings approaches its ten year anniversary.

CBRE has won a competitive tender to manage the 48,000 sq m, 40 storey skyscraper which is home to Swiss Re and a host of other financial and professional services firms including US law firm Kirkland and Ellis and financial technology company ION Trading.

The building will be the latest addition to CBRE’s ‘Premier Properties’ programme, which already includes buildings across the globe such as the Shanghai Tower and the Iberdrola Tower in Bilbao and constitutes 20 million sq m in total. These assets – all exceptional in terms of size, design and quality – benefit from a unique service designed to enhance the value, and safeguard the brand, of iconic buildings.

CBRE will take responsibility for the day-to-day management and maintenance of the building, oversee all service procurement and liaise with the building’s 20 occupiers. In addition, CBRE will work with the landlord to improve the customer experience. The Gherkin was designed by world-renowned architect Foster and Partners and reached practical completion in December 2003, officially opening in April 2004.

David King, Chairman of Property and Asset Management UK at CBRE, said:

“This is unquestionably one of the world’s most recognisable buildings, and one that has become synonymous with the City of London. It is imperative that the Gherkin continues to deliver occupiers with the quality of space, service and experience befitting such an iconic building through the next phase of its life cycle. We are extremely proud that IVG and Evans Randall has entrusted the management of the building to CBRE, and look forward to working with them.”