UK REIT Land Securities and Canary Wharf Group announced on Tuesday that they have formed a 50-50 joint venture to develop the 37-storey 'Walkie Talkie' office tower in London. Land Securities has sold the existing property at 20 Fenchurch Street to the joint venture for £90.2 mln (EUR 103 mln). The price is in line with the March 2010 valuation.