THE Walkie Talkie skyscraper in Fenchurch Street has been bought by a Hong Kong based company for a record breaking price.
£1.3 billion is the price that’s been agreed between joint developers Landsec and Canary Wharf Group and buyer LKK Health Products Group Limited – the largest amount ever paid for a single building in the United Kingdom.
Officially known as 20 Fenchurch Street, the landmark building with a distinctive top heavy profile was designed by Rafael Viñoly.
It was anything but a smooth beginning for the unmissable skyscraper – it made headlines around the world when sun-rays reflecting from the building melted part of a car at street level and in 2015 it was awarded the Carbuncle Cup which singles out ugly new buildings.
Robert Noel, Chief Executive of Landsec, said: “Our decision to sell 20 Fenchurch Street at an exceptional price and return cash to shareholders reflects our disciplined approach to the use of capital. The building has been an immensely successful project for Landsec and our partners.”