London's 'Cheesegrater' building is up for sale

The exterior of the newly constructed skyscraper, The Leadenhall Building, on September 15, 2014 in London, England. The skyscraper, located in the City of London, has been dubbed the 'Cheesegrater' for its distinctive shape. The building stands at 224 meters high and was designed by 'Rogers Stirk Harbour + Partners'.

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British Land said that it was in "advanced discussions regarding the possible sale" of the building, the tallest in the City of London at 48 stories, along with its joint-venture partner Oxford Properties.

The two companies both own 50% of the building.

"It is not certain that these discussions will lead to a sale of the building," British Land said.

While British Land declined to give more information on the buyer, the FT said that property news service CoStar News reported that discussions were being held with Chinese investment company CC Land and the price was around £1 billion.

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