CC Land Holdings Ltd, a Hong Kong-based firm has bought the London's tallest skyscraper, Leadenhall Building for $ 1.5 billion, China Daily reported.

"The move showed developers were diversifying their investments by location and business models, with more stepping out of the domestic market and getting yields from rental income instead of sales revenue," analysts said.

The deal includes debt of some 12.7 million pounds and on March 31 the building was valued at about 1.15 billion pounds, the announcement said.

The 225-meter-high building was owned jointly by British Land and Canada's Oxford Properties.

In 2016 the CC Land acquired One Kingdom Street, a 12-floor, 50-meter-high building in London for 290 million pounds. It also bought a 34.55 percent share of an office building in Australia for $15.68 million.