Firm buys London's Walkie Talkie building for £1.3billion
A Hong Kong firm has splashed out £1.3 billion to buy London's landmark 'Walkie Talkie' skyscraper in the capital's biggest property purchase.
The deal for 20 Fenchurch Street will see food conglomerate Lee Kum Kee buy out the Canary Wharf Group's and Land Securities' 50% stakes in the building.
Designed by architect Rafael Vinoly, the Walkie Talkie hit the headlines in 2013 when it was blamed for causing damage to a parked Jaguar by reflecting the sun's rays.
 The deal for 20 Fenchurch Street - the biggest in London history - will see food conglomerate Lee Kum Kee buy out the Canary Wharf Group's and Land Securities' 50% stakes in the building
These are the top five most expensive deals in London, courtesy of Cushman & Wakefield. They are as follows: 20 Fenchurch Street, bought by Hong Kong's LKK; 8 Canada Square, Qatar Investment Authority; the Leadenhall Building, China's CC Land; 8 Canada Square in an earlier deal, this time by Spain's Metrovacesa; and Citigroup Tower, UAE's AGC
However, the fully let building covering 34 floors in the City's insurance district makes it an attractive investment proposition.Â
It also boasts a three-tiered sky garden with a restaurant, bar and cafe, together with a free open air viewing area.
James Beckham of Cushman & Wakefield, which advised on the deal, said: 'This record-breaking deal demonstrates the enormous investor appetite in London, and in the City's reputation as the global place to do business.
'Si nce the vote to leave the EU, capital targeting London from the Asia-Pacific region has increased to record levels.Â
In second place on the list of London's biggest ever property deals is 8 Canada Square, left, and in third the Leadenhall Building, or 'Cheesegrater', right
At number four is 8 Canada Square, bought for £1 billion in April 2007 by Metrovacesa (Cresa Patrimonial) from Spain
'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.'
The deal comes months after another London landmark, the 'Cheesegrater' building, was sold to the investment vehicle of Chinese property magnate Cheung Chung Kiu for £1.15 billion.Â
This was the third biggest property deal in London's history. After 20 Fenchurch Street at the top, in second place is 8 Canada Square.Â
This was sold for £1.175billion in December 2014 to the Qatar Investment Authority.Â
In fourth place is 8 Canada Square, sold for £1billion in April 2007, whil e Citigroup Tower came fifth - sold for £1billion in May 2013.Â
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