Ian Scott International


Canary Wharf Group looks to sell £600m stake in Walkie Talkie skyscraper

Canary Wharf Group is mulling a sale of its stake in one of the City of London’s most recognisable buildings, according to reports.

The company is seeking agents to market its 50pc stake in 20 Fenchurch Street, known as the Walkie Talkie, for around £600m.

Canary Wharf Group manages its half of the building on behalf of a number of foreign investors, including China Investment Corporation, the Qatar Investment Authority and Morgan Stanley, having bought the stake from developer Land Securities in 2010.

It only owns around 15pc of the total value of the building, but is understood to be selling the rest of the 50pc stake on behalf of others.

Morgan Stanley had already been independently seeking a sale of its stake in the building.

Land Securities owns the other half of the building, and at present has not indicated an intention to sell.

The tower was completed in 2014, and is home to tenants including US insurance firm CNA and law firm DWF. It is also known for its Sky Garden on the top floor – a free public viewing gallery, designed by architect Rafael Viñoly. At 525 feet tall, it is the 12th tallest building in the capital.

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