Hong Kong firm buys skyscraperfor record $1.7B


A Hong Kong firm is buying up a London skyscraper for 1.3 billion pounds ($1.7 billion), the highest price ever paid for a single building in Britain, the property agents said Thursday.

The iconic 34-storey building known as the "Walkie Talkie" is in the City of London's insurance district and hit the headlines when it was blamed for damaging a parked car by reflecting the sun's rays.

"Since the vote to leave the EU, capital targeting London from the Asia-Pacific region has increased to record levels," said James Beckham of commercial property giant Cushman & Wakefield which advised on the deal.

"This is partly due to currency fluctuations but is more indicated of longer-term confidence in London and investment strategies which are not derailed by short-term political uncertainty," he said. The property agent said: "This is the UK's largest ever office deal".