Of all the Far Eastern investors to have flooded into the London office market this year, CC Land has completed the most headline-grabbing deals.
After dramatically entering the market at the start of the year with the acquisition of One Kingdom Street for £292m, the Hong Kong-listed company then agreed a £1.15bn deal to buy the Leadenhall Building, aka the Cheesegrater.
The top man at CC Land is chairman Cheung Chung Kiu, who owns more than 50% of the company and controls three other Hong Kong-listed companies including YT Realty, which has also made a couple of London acquisitions in the past two years.
Cheung has been a major name in the property markets of Hong Kong and mainland China for decades. He reportedly began his career selling Hong Kong-bought goods, including everything from umbrellas to electronics, in mainland China and became one of the youngest chairmen of a listed company in 1993 when he floated Yungang International at the age of 29.
In CC Land’s recent annual report, Cheung told investors that the two London acquisitions would form “a firm base for the group’s investment in the UK”..