China's CC Land buys London skyscraper for 1.15 bln pounds

GBA Holdings

01/03/2017 11:42

March 1 (Reuters) - CC Land Holdings Ltd  0261.HK , a firm 
run by Chinese property magnate Cheung Chung-kiu, has agree to 
pay 1.15 billion pounds ($1.4 billion) to buy London's 
"Cheesegrater" skyscraper, owners British Land  BLND.L  and 
Oxford Properties said on Wednesday. 
    The sale of the Leadenhall Building, known as the 
Cheesegrater because of its wedge shape, will be slightly 
dilutive to British Land's earnings per share but accretive to 
its net asset value per share, the property company said. 
 urn:newsml:reuters.com:*:nNDLfZ8ZB 
    British Land and Oxford Properties each own 50 percent of 
the building. Oxford Properties invests in real estate for one 
of Canada's largest pension plans.  urn:newsml:reuters.com:*:nL5N1GD45O 
    ($1 = 0.8105 pounds) 
 
 (Reporting by Esha Vaish in Bengaluru; editing by Jason Neely) 
 ((esha.vaish@thomsonreuters.com; +44 20 7542 1810; Reuters 
Messaging: esha.vaish.thomsonreuters.com@reuters.net; LinkedIn: 
https://in.linkedin.com/in/esha-vaish-9690b630)) 
 
Keywords: BRITISH LAND CHEESEGRATER/CC LAND