Gherkin sold to Brazilian billionaire Joseph Safra for £700m

Brazilian billionaire Joseph Safra has snapped up the Gherkin for a whopping £700m.

Seventy-five-year-old Safra, estimated to be worth $15bn, runs the Safra Group, a Brazilian  conglomerate with banking interests in North and South America, Europe, the Middle East and Asia. According to the BBC, the group manages assets worth more than $200bn.

Officially knowns as 20 St Mary Axe, the skyscraper was put up for sale this year after its co-owners - German property investors IVG Immobilien and Mayfair investment bank Evans Randall -failed to finalise a restructuring deal.

Savills and Deloitte Real Estate, who were handling the sale, received over 200 requests for buying the skyscraper.

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.”

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