Baltic Exchange may be sold as scrap

THE Baltic Exchange, the famous City landmark dismantled after the IRA bomb of 1992, is just days away from being sold off as kitchen worktops and scrap.

An antiques restoration dealer, who has kept the building in 250 crates in a barn near Canterbury for more than a year in the hope of finding a buyer, has finally admitted: 'Time is running out.'

Dennis Buggins, managing director of Extreme Architecture, wants £750,000 for the giant 'Lego' kit and believes the vast majority could be restored.

His last hope is a foreign consortium that wants to take the building out of the UK. 'It looks like it's overseas or a bin job,' he said. 'They are showing strong interest but nothing more.'

The IRA bomb severely damaged the building's foundations, but almost all the columns, red granite, coloured marble and Portland stone remained intact. A buyer would also bag its lavish interiors, sculptured sea monsters, mermaids riding dolphins and even a bust of Britannia.

Buggins bought the building off a Cheshire-based salvage firm in August last year and initially gave himself 12 months to sell it. He may soon be forced to sell off the columns and marble individually.

In its pomp, the Baltic Exchange was meant to demonstrate the wealth and solidity of London's maritime trade. John Prescott gave permission for it to be taken down and replaced by Swiss Re's 'Gherkin' in 1998.