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London's Gherkin sold to Brazilian billionaire in multi-million pound deal

London’s 180-metre-high office tower, the Gherkin, has been bought by Brazilian billionaire Joseph Safra in a deal reported to be worth more than £700 million.

The building, which is now officially known as 30 St Mary Axe, was put up for sale earlier this year after its previous owners, private equity firm Evans Randall and German property investor IVG, defaulted on a loan.

In a statement, The Safra Group said: “The acquisition of 30 St Mary Axe is consistent with our real estate strategy of investing in properties that are truly special – at the best locations within great cities.

“While only 10 years old, this building is already a London icon that is distinguished from others in the market, with excellent value growth potential.

“We intend to make the building even better and more desirable through active ownership that will lead to a range of enhancements that will benefit tenants.”

This was posted in Bdaily's Members' News section by Ellen Forster .