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Gherkin put up for sale by receivers

The City’s Gherkin building has been put up for sale by administrators who hope to attract bids of at least £650m.

The 41-storey tower was designed by Lord Foster for insurance company Swiss Re and opened in 2004 but it fell into receivership this year after debts secured against the building soared.

Administrators Deloitte have appointed estate agents Savills and Deloitte Real Estate to sell the building, which is thought to have a market value of at least £650m, according to those with knowledge of the market.

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