Wanda sells interest in London’s One Nine Elms project

Dalian Wanda Group Co. agreed to sell its interest in the One Nine Elms project on the south bank of London’s River Thames for about 59 million pounds. Included in the agreement, the purchaser will also assume a 159.5 million-pound loan owed by Wanda Hotel.

The buyer is rumoured to be R&F Properties, one of China’s largest developers. Last year R&F and C C Land Holdings Ltd., the owner of London’s Cheesegrater tower, jointly acquired the adjacent 10-acre Nine Elms Square land.