Completed in 2020, it occupies a prominent site in Bishopsgate, in the City of London financial district, and stands 278 m (912 ft) tall with 62 storeys.

The project replaces an earlier plan for a 288 m (945 ft) tower named The Pinnacle, on which construction was started in 2008 but suspended in 2012 following the Great Recession, with only the concrete core of the first seven storeys.

In 2013 it was reported that a review of the design and construction process, undertaken by original architects Kohn Pedersen Fox, agents CBRE and the developers, had been completed, with the building's "helter skelter" style exterior set to be retained.

[6] In 2015, the site was sold to a consortium led by Axa Real Estate and a re-design with a simpler exterior, ultimately excluding the costly "helter skelter" shape, was submitted for public consultation before application for planning permission.

In April 2016, it was confirmed that property company Lipton Rogers and its joint venture partner, Axa IM – Real Assets, would complete the £1bn development in 2019.

However, the City of London granted permission after considering the potential benefits of developing the building including the introduction of more floorspace to the area and the creation of new jobs.

[7] In 2017, plans were approved which redesigned the building and reduced its height further to 255 m due to concerns that the cranes used for its construction could interfere with the flight paths of the nearby London City Airport.

[13] The twisting design of its roof and the curling patterns in the façade were based on various organic forms in nature such as armadillos, mushrooms and seashells, and led to the building being nicknamed "The Helter Skelter".

[10][15] The Pinnacle's original design also provided more solar panelling than any other building in the country, with 2,000 square metres (21,500 sq ft) of photovoltaic cells, capable of generating up to 200 kW of electricity.

[24][20] It was scheduled to be completed by February 2008, however this was delayed until April 2008 because of an injunction won in December 2007 by Hiscox, an insurance company based in neighbouring Great St.

[20][28] It was reported that law firm Davies Arnold Cooper was to take up 80,000 sq ft (7,400 m2) of office space,[29] and subsequently that the restaurant which was to be at the top of the tower was let.

By March 2009 the largest-ever piles in the UK had been laid (the previous record holder was Moor House with foundations 57 m deep, and these were only built to that depth in 2002 to allow Crossrail to eventually pass under it).

In June 2011 Arab Investments announced that they had secured the near £500 million shortfall in the project, meaning that construction work could resume, and by December 2011 the core had reached the sixth floor.

The following month it was understood that several architects had submitted bids to re-design The Pinnacle, including Ken Shuttleworth, the co-designer of 30 St Mary Axe.