Hong Kong investors have snapped up the Walkie Talkie for a record-breaking £1.3billion. A division of Lee Kum Kee – best known for its condiments, especially oyster sauce – has exchanged contracts with Landsee to purchase its 50% stake in 20 Fenchurch Street.
It is understood LKK Health Products Group will also buy the half of the building controlled by Canary Wharf Group, which built the skyscraper and had syndicated shares to Morgan Stanley, Qatar Investment Authority and Chinese Investment Corporation.
The deal makes the Walkie Talkie the most expensive single building in the UK and comes hot on the heels of a £1.15billion purcahse of the Leadenhall Building, bought by Chinese firm CC Land in May.
Landsee chief executive Rob Noel told the Financial Times the UK real estate investment trust had not been planning to sell the building but could not refuse at the price offered.
He said: “This is a shining example of our development programme. We started it in 2010 and people asked: ‘What on Earth are you doing?’ Now it’s sold at a record pricing.”
In 2016 Lee Kum Kee spent £37million buying 3 Harbour Exchange on South Quay .
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