Currently under construction, 25 Gresham Street is scheduled for completion in the summer. Lloyds TSB will move in to the building in the autumn and will be out of Lombard Street by April next year. Asticus, part of German real estate group IVG Holding, expects to start on site at Lombard Street in autumn 2003.

Lawyer Denton Wilde Sapte acted for Asticus and CMS Cameron McKenna for Lloyds TSB. DWS announced the deal at the MIPIM properety show in Cannes, France. Property brokers involved in the deal were DTZ and FPDSavills for Asticus and BH2 and Healey & Baker for Lloyds TSB.

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