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Gherkin bought for over £700m

The Gherkin, in the City of London, has been bought by billionaire Brazilian banker Joseph Safra, in a deal thought to be worth more over £700m.

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"We intend to make the building even better" says new owner

"We intend to make the building even better" says new owner Safra Group Credit: John Walton/PA Wire

"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 ten 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."

– Safra Group

Building had guide price of £650m

The iconic skyscraper, at 30 St Mary Axe, is known as the Gherkin because of its distinctive shape.

According to the Financial Times, the group - headed by billionaire Brazilian businessman Joseph Safra - paid £726m for the 180m high Norman Foster-designed tower.

The building was put up for sale earlier this year with a guide price of £650m.

The Gherkin: the second tallest tower in the City of London Credit: John Walton/PA Archive

The Gherkin is the second tallest tower in the City of London and the sixth tallest in London.

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