Gherkin, one of London’s tallest and most iconic skyscrapers, has been sold to Brazilian billionaire Joseph Safra in a £726m deal.
Safra owns Brazil-based bank Banca Safra, a private bank in Switzerland, as well as an extensive property portfolio.
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Savills and Deloitte Real Estate were hired earlier in 2014 to find a buyer for the Norman Foster-designed tower, and courted interest from over 200 parties.
Highlighting their plans for the building, Safra Group said, "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."
With a height of 180 metres, Gherkin is the second-tallest tower in the City of London and the sixth-highest in London.
The building, also referred to as the 30 St Mary Axe, was completed in 2004 for Swiss Re who sold the building in 2006 for £600m to a fund managed by Germany’s IVG Immobilien, and Evans Randall, a UK private equity group.
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By GlobalDataThese buyers had been in default for the last five years on the £395m they borrowed to fund the purchase.
Swiss Re is one of the largest tenants of the building and occupies half of the 50,000 square metres of office space, along with law firm Kirkland & Ellis.
