British Land in talks to sell London's 'Cheesegrater'

British Land and joint venture partner Oxford Properties are in advanced talks to sell the "Cheesegrater" skyscraper in London, the company said on Tuesday.

Named the Leadenhall Building, the "Cheesegrater" nickname is derived from its wedge shape.

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

A source told Reuters in November that British Land was looking to sell its 50 per cent stake in the building, having fully renting out the office property earlier in 2016.

Oxford Properties, which invests in real estate for OMERS, one of Canada's largest pension plans, holds the other 50 per cent stake in the project.