The site is adjacent to the Lloyd's Building, also designed by Rogers, which is the current home of the insurance market Lloyd's of London. Until 2007 the Leadenhall site was occupied by a building owned by British Land and designed by Gollins Melvin Ward Partnership, which was constructed in the 1960s. That building was demolished in preparation for redevelopment of the site. By December 2009, the site was cleared but construction had stalled. The project, initially delayed due to the financial crisis, was revived in October 2010 and Oxford Properties has co-developed the property in partnership with British Land.