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Report: C C Land teams up with 3 Hong Kong developers to buy London tower

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Report: C C Land teams up with 3 Hong Kong developers to buy London tower

C C Land Holdings Ltd. banded with three other Hong Kong-based property companies for a majority stake in the 40 Leadenhall St. office project in the City of London, Bloomberg News reported, citing two people with knowledge of the deal.

TH Real Estate, which owns the development that is yet to start, will retain a minority stake and manage the project, according to the sources. It is also tipped that Mace Group Ltd. was named preferred bidder for the construction of the property colloquially named Gotham City, as its design was inspired by the neo-gothic architecture of Chicago and New York.

Bloomberg reported Dec. 15 that C C Land, TH Real Estate and Mace declined to comment.

TH Real Estate's 40 Leadenhall St. building was designed to vary in height, with the highest point expected to reach 34 stories or 154 meters tall by 2019. The office and retail project will have about 84,500 square meters of space. The development site was acquired in 2011.

On the same London street, C C Land acquired The Leadenhall Building in May for a record price of £1.15 billion, and it was also involved in the joint venture, £470 million acquisition of Nine Elms Square in London. The Chinese company has also recently added a Landsec veteran to be its first head of development in the U.K.