Thu, 02 Mar 2017 | COMMERCIAL PROPERTY
The Cheesegrater, one of the tallest buildings in London, has been sold for £1.15 billion to Chinese investors, it has been confirmed.
British Land and Oxford Properties, which both own 50 per cent of the distinctive wedge-shaped building, formerly called the Leadenhall Building, said they had exchanged contracts with CC Land.
Earlier this week British Land said “advanced discussions” were taking place regarding the possible sale of the building.
The deal is one of the largest acquisition of UK real estate by a Chinese firm.
The Cheesegrater, which was formally opened in late 2015, is fully let and has achieved record rents for the City of London of more than £100 per sq ft. Current tenants include the insurers Aon and MS Amlin.
Tim Roberts, head of offices and residential at British Land, said: “British Land and Oxford Properties took a bold step at the early stages of the UK’s economic recovery to develop the Leadenhall Building to generate a high quality, long term income stream. It’s a decision which has really paid off.
“Through a strong, collaborative partnership, we have delivered an iconic, award-winning building let to high calibre occupiers at record City rents. This sale shows continued investor appetite for best-in-class, well located property in London.”
CC Land is run by Chinese billionaire property tycoon Cheung Chung-Kiu. In January this year CC Land acquired Vodafone’s Paddington HQ in a deal worth nearly £300 million.
The Cheesegrater deal is subject to approval by CC Land shareholders.
The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...
Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...
LEASEHOLD
This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...
LEASEHOLD
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources