Cheesegrater Tycoon looking to spend more on half-share of nearby Walkie Talkie

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The Chinese tycoon who spent more than £1bn on London’s Cheesegrater is looking to splash £600m more on a half-share of the nearby Walkie Talkie.

Market sources have said Hong Kong-listed CC Land, a vehicle of the property magnate Cheung Chung Kiu, is among the early bidders for a 50 per cent stake in the City tower. It was put up for sale by the Canary Wharf Group this year.

However, the tycoon faces competition from other Asian buyers. The pounds fall after the Brexit vote increases the appeal of the capital’s property market for those buying overseas.

It’s understood that the multimillionaire Cheung has been to London to take a look at the tower. It’s formally known as 20 Fenchurch Street.

Other potential buyers who have taken an interest are Singaporean sovereign wealth fund Temasek, as well as Lee Kum Kee, the food conglomerate, its founder invented oyster sauce more than a century ago.