Safra Group has purchased the Gherkin (30 St Mary Axe) in the City of London for upwards of £700m, it is reported. The announcement was made by the Safra Group and receiver Deloitte earlier this week however the official financial terms were not disclosed. The 50,000 sq m commercial tower was designed by Foster + Partners and is a highly recognisable feature of the London skyline.
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 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."