A Hong Kong firm is buying up a London tower for £1.3 billion (Dh6.27bn), the highest price ever paid for a single building in Britain, the property agents said on Thursday.
The famous 34-storey building known as the "Walkie Talkie" is in the City of London's insurance district and hit the headlines when it was blamed for damaging a parked car by reflecting the sun's rays.
"Since the vote to leave the EU, capital targeting London from the Asia-Pacific region has increased to record levels," said James Beckham of the commercial property majort Cushman & Wakefield which advised on the deal.
"This is partly due to currency fluctuations but is more indicated of longer-term confidence in London and investment strategies which are not derailed by short-term political uncertainty," he said.
"This is the UK's largest ever office deal."
Lee Kum Kee, a food and health products conglomerate, is buying the two 50-per cent stakes in the building owned by Canary Wharf Group and Land Securities.
The building, which is fully let, includes a three-tiered sky garden with a restaurant.
The deal comes months after the Chinese property magnate Cheung Chung Kiu bought another London landmark - the "Cheesegrater" building - for £1.15bn.
The previous highest price for a single piece of British commercial property was the HSBC tower in Canary Wharf which was bought by the Qatar Investment Authority in December 2014 for £1.17bn.
Reuters
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
Fight card
1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg: Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg: Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg: Mostafa Radi (PAL) v Ahmed Abdelraouf of Egypt (EGY)
9. Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
The Specs
Engine: 3.6-litre twin turbocharged V6
Transmission: 10-speed automatic
Power: 472hp
Torque: 603Nm
Price: from Dh290,000 ($78,9500)
On sale: now
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich 1
Kimmich (27')
Real Madrid 2
Marcelo (43'), Asensio (56')
Community Shield info
Where, when and at what time Wembley Stadium in London on Sunday at 5pm (UAE time)
Arsenal line up (3-4-2-1) Petr Cech; Rob Holding, Per Mertesacker, Nacho Monreal; Hector Bellerin, Mohamed Elneny, Granit Xhaka, Alex Oxlade-Chamberlain; Alex Iwobi, Danny Welbeck; Alexandre Lacazette
Arsenal manager Arsene Wenger
Chelsea line up (3-4-2-1) Thibaut Courtois; Cesar Azpilicueta, David Luiz, Gary Cahill; Victor Moses, Cesc Fabregas, N'Golo Kante, Marcos Alonso; Willian, Pedro; Michy Batshuayi
Chelsea manager Antonio Conte
Referee Bobby Madley
THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
COMPANY PROFILE
Founder: Hani Abu Ghazaleh
Based: Abu Dhabi, with an office in Montreal
Founded: 2018
Sector: Virtual Reality
Investment raised: $1.2 million, and nearing close of $5 million new funding round
Number of employees: 12
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
The specs
Engine: Dual permanently excited synchronous motors
Power: 516hp or 400Kw
Torque: 858Nm
Transmission: Single speed auto
Range: 485km
Price: From Dh699,000