Property company British Land and a Singaporean wealth fund GIC said in a statement that they had sold 5 Broadgate to a subsidiary of Victor Li’s CK Asset Holdings.

The move comes days after Li’s CK Infrastructure Holdings made an A$12.98 billion (USD9.8 billion) takeover offer for Australia’s biggest gas pipeline company, APA Group, offering a hefty 33% premium to tap into a tight gas market.

The London building, completed in 2015, generated a property return of 18% per annum for British Land.

CK Asset first entered the UK property market in 1995, and has developed a number of residential and commercial properties, including Royal Gate Kensington, Montevetro, Belgravia Place and Albion Riverside in London.

Li Ka-shing handed over the keys of his empire, which includes CK Hutchison Holdings Ltd, to his elder son earlier this year.