Singaporean investor Ho Bee Land is set to buy Apollo House and Lunar House in Croydon, Surrey, for £99m.
In a statement on the Singapore Stock Exchange, the investor said it will buy the site though a wholly owned subsidiary, Kempster Investments, with completion scheduled for 30 December.
The assets consists of two office buildings of 20 and 22 storeys of 441,797 sq ft, let to the British government until June 2023.
Total rent is approximately £5.5m pa, reflecting an average rent of £12.50 per square foot and a 5.4% yield.
Chairman and chief executive officer of Ho Bee Land, Chua Thian Poh said: “This is Ho Bee’s third major office acquisition this year and its sixth office building in London.
“The acquisition increases our investments in U.K. to about £600m in the past three years and reflects our confidence in the London’s commercial market.”
