The City of London’s tallest tower is to be sold to Chinese investors after the joint owners of the “Cheesegrater” building exchanged contracts to sell it to China’s CC Land.
British Land, which developed the tower in a 50-50 joint venture with Canada’s Oxford Properties, said on Wednesday the building would be sold for ￡1.15bn.
The price for the all-cash deal is 26 per cent above the building’s most recent valuation of ￡915m last September, defying broader price falls in the market that followed the UK’s vote to leave the EU.
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