The building was constructed as headquarters for the Swedish-English Mineral Company which in 1939 changed its name to AB Svenska Shell. The rounded shape was needed to accommodate the pumping station erected in front of the building.  The facade is decorated with Shell symbols above the windows of the second floor.

In 1975, Svenska Shell moved its head office to Solna and with that, the gas pumps in front of the house disappeared. Finance companies such as Svenska Finans and then Max Matthiessen had offices in the house during the 1980s and 1990s. In the late 1980s, the building became known as the exterior of the Swedish Television's drama series Varuhuset.

The house was then bought and renovated by the real estate company Wallenstam, which has made it to its Stockholm office in 2003. In 2014, Torgny Larsson's sculpture Two Ants was placed in front of the main entrance.