The skyscraper which provides 324,000 sq ft of office space in London was put up for sale in April 2010.
The office building had generated a number of bids from investors, including the £300m bid from Hong Kong property developers, Chinese Estates Group.
According to Property Week, the owners of Tower 42, said “While there were in excess of forty viewings with good international interest and a significant number of bids, the partnership has decided to remove the opportunity from the market.”
Formally known as the NatWest Tower, the London office space is currently let to a number of companies including Samsung, ViewSonic and Momenta Consulting.
Tower 42 which is located at 25 Old Broad Street, is the second tallest skyscraper in the City of London and cost an estimated £230m to construct. As well as providing prime London office space the building also comprises two restaurants and leisure facilities.