In 2007–08, the building was demolished to make way for a new development designed by Richard Rogers. The demolition was undertaken by McGee Group Ltd, with Bovis Lend Lease acting as construction manager. The contract value was £16 million. The first phase of demolition was conventional: after securing the site, the contractors performed a soft strip of the interior and an asbestos survey prior to demolishing the low level structures up to podium level. After this, the suspended structure of the building required an unconventional demolition approach that successively dismantled each office floor from the lowest upwards. To achieve this, the contractors installed a structural deck that acted both as a work platform for the demolition work and as a safety barrier. This was jacked upwards as each successive office floor was removed. When all the office floors and upper support trusses had been removed, the concrete core was de-stressed and demolished. Concurrently, the 25,000 cubic metre basement was propped and excavated. The contract took just over two years to complete.