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      FJG Solicitors in Essex, Colchester, Chelmsford, London – Fisher Jones Greenwood
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      Safra Group Acquires London’s Gherkin

      11 November 2014 by Leon Pascal

      Leon Pascal
      The Gherkin

      Further to our post in August describing the circumstances surrounding the then-impending sale of one of London’s most distinctive buildings, we can now report that the Gherkin has been sold for over £700m to the Safra Group (‘Safra’), the predominantly banking and financial services network of companies chaired by Brazilian billionaire Joseph Safra.

      It is understood that Savills (property agents) and Deloitte (receivers) handled interest from more than 200 parties before selling to Safra for £726m, giving Safra an estimated yield of 3.8%.

      Despite Safra releasing a statement post-completion stating: ‘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’, the acquisition is indicative of Safra’s varied investment appetite. In October 2014, jointly with Brazilian orange juice group Cutrale, Safra closed the $1.3bn acquisition of Chiquita, the leading distributor of bananas in the United States of America.

      Safra believes that the Gherkin offers ‘excellent value growth potential’ and it intends to make the building even more desirable through ‘active ownership that will… benefit tenants’. Original anchor tenant Swiss Re remains one of the principal tenants, occupying half of the 50,000 sq m of office space, alongside American law firm Kirkland & Ellis.

      If you would like to discuss how Fisher Jones Greenwood LLP can assist you with a proposed property transaction, please contact our Real Estate team on 01206835300 or email [email protected]

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      Fisher Jones Greenwood is the trading name of Fisher Jones Greenwood LLP, a Limited Liability Partnership authorised and regulated by the Solicitors Regulation Authority and registered in England ( Number: OC305854 ). A list of members is available for inspection at the registered office at Charter Court, Newcomen Way, Colchester Business Park, Colchester, Essex CO4 9YA

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      We are welcoming clients back to our offices

      Differing tiers and three lockdowns later, Fisher Jones Greenwood Solicitors are now pleased to be able to welcome clients safely back to our offices.

      Remote working and the digitalisation of the way we work, have been key to keeping FJG and the rest of the country going.

      • We are now able to offer, pre-booked face-to-face appointments. Although, we are still able to offer remote appointments if preferred.
      • You can continue to visit our offices at any time to post any correspondence and documents through letterboxes.

      If you are visiting an FJG office, covid-19 safety rules of social distancing, hand sanitization, and the wearing of masks will still apply.

      • Please be aware you will also need to have your temperature taken on arrival.
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      Please do not hesitate to contact your legal adviser by email or by telephone should you have any worries or concerns. Alternatively, please call our main switchboard number (01206 835300), and a message to return your call will be relayed to the relevant person.

      Best wishes
      Paula Cameron
      Managing Partner