60/70 St Mary Axe

St Mary Axe

We purchased 60/70 St Mary Axe in 2001 as a freehold investment let to Barclays Bank Plc on an FRI lease of the whole. The freehold interest comprised 40% of an Island site in the heart of the City of London.

Following vacation of Barclays at lease expiry, we developed and delivered the first Targetspace Business Centre on the upper floors, and completed direct lettings of the ground floor to Starbucks and Pasta Box.

We planned and secured full planning consent for the so-called "Can of Ham" office development comprising 300,000 sq ft net internal area. This investment and development opportunity was sold in 2010, achieving 40% above the initial purchase price.

Initial groundwork commenced in 2015, and now construction is fully underway in the hands of the current owner, incorporating most of our original design elements and retaining the design's distinctive shape.