A Chinese company has confirmed the purchase of the ‘Cheesegrater’, the tallest building in the City of London, in what has been dubbed China’s biggest investment in the UK property market.
CC Land Holdings Ltd, which is controlled by property tycoon Cheung Chung-kiu, announced that one of its subsidiaries bought 122 Leadenhall Street for £1.135 billion.
The deal is reportedly the second biggest ever for a UK property, after Middle East buyers in 2014 purchased the HSBC tower in Canary Wharf for £1.18bn.
At that time approval had still not been granted by shareholders of CC Land Holdings, which would only confirm to Chinese media that it was in “advanced discussions” over the property.
But a statement released by the company in China this week confirmed the deal.
A report in the state-run China Daily said it was the “biggest Chinese investment in the United Kingdom’s real estate market.”