Axa Real Estate Investment Managers has bought St Andrews House at 18-20 St Andrews Street, EC4, for £32m from a fund managed by CBRE Global Investors.
The vacant building will be refurbished by Morgan Capital Partners.
The scheme includes the addition of a ninth floor on top of the building, to increase the total floor area to around 54,000 sq ft.
Work will start in the autumn and is due to complete by the end of next year.
Colliers International advised Axa and Morgan Capital Partners; Cushman & Wakefield acted for CBRE GI.
