City exclusive: HSBC strikes £605m deal for iconic Cheesegrater skyscraper in the Square Mile
Morning Wire can exclusively reveal this afternoon that property investment giant CC Land Holdings has struck a £605m refinancing deal for one of London’s tallest buildings, the iconic ‘Cheesegrater’, in an agreement co-ordinated by HSBC.
Officially named The Leadenhall Building, after its London location, the 225-metre-tall skyscraper was purchased by Hong Kong-headquartered C C Land in 2017 for £1.15bn, the second biggest sale of a UK building at the time.
“The refinancing incorporates international support from HSBC UK, The Hongkong and Shanghai Banking Corporation Limited, Bank of China (Hong Kong), UBS AG, Hang Seng Bank and The Bank of East Asia,” the company shared this paper today.
Dr. Peter Lam, Deputy Chairman and Managing Director, at C C Land said he was “pleased” and stressed the fresh funding will continue to support the business as we develop our international property portfolio.”
On behalf of HSBC, Andy McDonald, Head of Real Estate Finance at HSBC UK, said that “The ‘Cheesegrater’ is a prominent feature of London’s skyline, and we’re delighted to have worked with C C Land and banking partners around the world to lead on the refinancing for this investment property.”
No further details were shared.