China's Fosun International Ltd. is assumed to be speeding up international expansion following its latest acquisition in London.

Fosun, which is founded by Guo Guangchang, dubbed as China's Warren Buffet, is reportedly nearing to close a deal of London's Thomas More Square complex for 300 million pounds ($426.4 million), a source familiar with the transaction, told Reuters.

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The office complex which lies on the edge of London City marks another prominent estate to Fosun's growing portfolio that already owns Lloyds Chambers in London and Palazzo Broggi in Milan.

The source further revealed that Fosun will be utilizing Resolution Property Investment Management, a partnership formed with Resolution Property in 2015, to buy Land Securities's London Complex.

Land Securities refused to comment about the issue, while both Fosun and Resolution also declined to give immediate statements, adding that official comments will be based on the company's announcement.

Once the deal is closed, this will mark the biggest real estate transaction of Fosun in Europe. But as of to date, no official announcement has been released yet.

The Thomas More Square complex is situated near St Katharine Docks in Wapping, north of the river Thames. It has more than half a million square feet of office space and more or less 40,000 retail space.

Meanwhile, Fosun announced in July that Resolution Property Investment Management will act as its sole investment manager in case a real estate asset in Europe comes to its interest.

According to Justin Taylor, EMEA retail head of Cushman & Wakefield, said that the European market is among the best options for Chinese companies that targets to expand overseas, as Europe is anticipated to see improvements on the retail market, particularly commercial locations.

TagsFosun, Guo Guangchang, China's Warren Buffet, London, Lloyds Chambers, Palazzo Broggi, Thomas More Square Complex, Resolution Property Investment Management, investment