Acid-catalysed solvolysis procedures exchange protecting groups on benzyl alcohol derivatives in the synthesis of η5 1-arylcyclohexadienyliron building blocks for alkaloid synthesis. The reaction proceeds via a carbocation intermediate which can also be intercepted by intramolecular electrophilic addition to the tricarbonyl(η4-diene)iron(0) moiety to provide a novel and high-yielding cyclisation reaction forming a 5aα-cyanomethyl-5a,8a-dihydrofluorene tricarbonyliron complex in 96 % yield.