IVG Development UK has completed its £60m refurbishment of 14 Cornhill in the City of London.

The redevelopment of the former Lloyds TSB HQ at Bank was designed by DLG Architects and comprises an alteration of .internal lay out of the Grade II* building to provide more office space while retaining what is regarded as one of the finest banking halls in the city.

IVG bought the 172,000 sq ft building in 2001 and successfully prelet most of it to Russian bank VTB before completion.

Last Christmas it sold the building to the Libyan Investment Authority for around £120m at a yield of between 6% and 6.25%.

DTZ and Knight Frank advised IVG on the sale. Chesterton advised the Libyan Investment Authority.