London’s Cheesegrater building could be sold for £1bn

Tue, 28 Feb 2017 | COMMERCIAL PROPERTY

London’s 225m-high Leadenhall Building - better known as the ‘Cheesegrater’ - is on the market and could be sold to Chinese investment group CC Land for more than £1 billion, according to reports.

Today British Land, which owns 50 per cent of the 48-storey building alongside joint venture partner Oxford Properties, confirmed that “advanced discussions” are taking place regarding the “possible sale of interests in the Leadenhall Building”.

“It is not certain that these discussions will lead to a sale of the building. Further announcements will be made as appropriate,” the company added.

The Financial Times reported that CoStar, a property news service, said discussions were being held with CC Land, which is run by property magnate Cheung Chung-kiu, with the price at £1.02 billion.

If it goes through the deal will be one of the largest Chinese UK real estate acquisitions.

Tenants at the Leadenhall Building, opened in October 2015, include insurers Aon and Amlin.

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