One of London's most recognisable landmarks - the Gherkin - has been sold in a multimillion-pound deal.

The 180m office tower, which is officially called 30 St Mary Axe, has been bought by Brazilian billionaire Joseph Safra in a deal reported to be worth more than £700 million.

Completed in 2004, the building was put up for sale earlier this year after its previous owners, private equity firm Evans Randall and German property investor IVG, defaulted on a loan.

In a statement, 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.”

It did not disclose the amount it paid.