Canary Wharf Group, the main subsidiary of Songbird Estates, on Wednesday became the latest landlord to reap the benefits of London's hot property market, selling a landmark building at a substantial premium to a valuation only three months ago.

Canary Wharf, which owns the East London development that houses several banks and a burgeoning financial district, said it sold 5 Churchill Place to a private investor based in Bermuda for £208 million ($338.83 million). The property was valued at £170 million in September, when it still was under construction.