Baltic Exchange (building) Baltic Exchange (building) The Baltic Exchange was a building located at 24–28 St Mary Axe in London and occupied by Baltic Exchange Ltd, a provider of information on maritime transportation markets. A historic landmark, the Baltic Exchange building was architecturally known for its cathedral-like trading hall and its stained glass. It was destroyed in a bombing in 1992. The site is now occupied by "The Gherkin". The historic building was designed by Smith and Wimble and completed by George Trollope & Sons in 1903: it was subsequently listed as a Grade II* listed building. On 10 April 1992 at 9:20
30 St Mary Axe for sale with a price tag of £600 million. Potential buyers included British Land, Land Securities, Prudential, ING, and the Abu Dhabi royal family. On 21 February 2007, IVG Immobilien AG and UK investment firm Evans Randall completed their joint purchase of the building for £630 million, making it Britain's most expensive office building. Swiss Re booked a gain of more than £300 million from the sale. The new owners are seeking compensation from four of their former managers on the deal, in which about £620 million was paid for a building with a build cost of about £200 million,