Trailstone fills void at City tower left by bust Powa

Commodities trader Trailstone has stepped into the shoes of Dan Wagner’s bust tech firm Powa Technologies by snapping up some of its space in the Salesforce Tower, the Standard understands.

Industry sources say the company — set up by former top brass at Deutsche Bank when the German bank pulled out of commodity dealing — is taking one of the two floors left vacant by the collapse of Powa.

Trailstone, which already occupied a smaller floor in the skyscraper, is understood to be paying £90 per square foot to rent the 12,600 square foot 35th floor. The deal leaves only the 34th floor available at 110 Bishopsgate, also known as Heron Tower.

The building was developed by property giant Gerald Ronson’s Heron International but initially struggled to attract tenants as the City floundered in the aftermath of the financial crash.

Wagner’s Powa was one of the tenants who originally complained in a row over a bid to formally rename the building the Salesforce Tower two years ago after the US giant took space.

The City Corporation’s planning and transportation committee compromised, officially designating it 110 Bishopsgate but recognising that the informal Salesforce Tower moniker was already in use.