It's a decision which has really paid off.'This sale shows continued investor appetite for best-in-class, well-located property in London.' The sale of the iconic building is one of the largest UK property deals so far by a Chinese investor.
Known as the 'Li Ka-shing of Chongqing', 52-year-old Cheung moved to Hong Kong at the age of 16, where he built up a property empire.
The developer announced on December 22, 2010 that the project was moving forward after contracts had been signed for the 50/50 joint venture with Oxford Properties, and construction got underway.
The slanting wedge-shaped design of the tower was created so that it would have less impact on the protected sightline of St Paul's Cathedral when viewed from Fleet Street and the west.
CC Land also bought Vodafone's Paddington Headquarters for £290m in January.
Qatar owns swathes of the Canary Wharf financial district through its majority holding in Songbird Estates plc, including the main 1 Canada Square building.
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The 737ft Leadenhall Building, known as the Cheesegrater because of its distinctive wedge shape, was a joint venture between British Land and Oxford Properties, an investor in real estate for one of Canada's largest pension plans.
In 2014 a a Brazilian billionaire has paid more than £700million to buy The Gherkin – one of the most distinctive towers in the City of London.
Joseph Safra, the banker behind the Safra Group who has a personal fortune of around £10billion, bought the skyscraper at 30 St Mary Axe for £726million.
However, the property magnate managed to recover some of his fortune, and he now appears to be setting his sights on London.
Cheung has already made other investments in the capital; YT Realty, which he chairs, bought the Travelodge Hotel near Liverpool Street station for £43 million last summer.