Property developer C C Land Holdings Ltd said on Wednesday it was in “advanced discussions” regarding a potential acquisition of Leadenhall Building in London.

No formal agreement has been reached, the Hong Kong-based company said in a filing to the Hong Kong bourse. It gave no further details.

The Financial Times has reported that C C Land is in talks to buy the building for one billion pounds (US$1.24 billion).

The Leadenhall Building is also known as “The Cheesegrater” on account of its sloping shape.

The building comprises 610,000 square feet of office and retail space over 45 floors.