In 1990, following a limited design competition, RRP was commissioned by Daiwa Europe Properties to design their new London headquarters on a site at the corner of Wood Street and London Wall. The twin economic recessions that hit Europe and the Far East, however, obliged Daiwa to rethink its strategy and the prestigious headquarters project was abandoned. The site stood vacant for three years, after which a new brief was given to RRP to design a speculative, high-quality, commercially lettable building, larger and more economical than its predecessor. (via 88 Wood Street | OpenBuildings)
