黑洞社区

The Walkie Talkie building in the City of London has been sold to Hong Kong investors for 拢1.3bn.

The scheme (pictured), which was built by Canary Wharf Contractors and won the 2015 Carbuncle Cup run by 黑洞社区鈥檚 sister title BD, has been sold to Hong Kong giant Lee Kum Kee in the UK鈥檚 biggest ever deal for a single office building.

The price for the 37-storey tower, designed by Rafael Vinoly, tops the 拢1.15bn sale paid by Chinese investors for the Cheesegrater skyscraper in Leadenhall earlier this year.

Half of the Walkie Talkie building, whose official address is 20 Fenchurch Street, was owned by property developer Landsec 鈥� the new name for Land Securities 鈥� with the other half held by a group of investors.

Landsec chief executive Rob Noel said the firm will hand 拢475m of the expected 拢634.5m of proceeds of the sale to shareholders in the autumn.

Noel said it had got an 鈥渁n exceptional price鈥� for the sale, adding that it cost 拢473m to build when it was completed in 2014.

James Beckham of Cushman & Wakefield, which advised on the deal, said: 鈥淭his record-breaking deal demonstrates the enormous investor appetite in London, and in the City鈥檚 reputation as the global place to do business.

鈥淪ince the vote to leave the EU, capital targeting London from the Asia-Pacific region has increased to record levels. This is partly due to currency fluctuations but is more indicative of longer-term confidence in London and investment strategies which are not derailed by short-term political uncertainty.鈥�

The deal is expected to be wrapped up at the end of next month.