The Railways Pension Scheme has acquired the home of the River Café in Hammersmith, W6, from the Livingstone brothers.
RPMI Railpen has bought the freehold interest in Thames Wharf Studios from London & Regional Properties.
Allsop was instructed to sell the 46,706 sq ft asset in October for £40m – a net initial yield of 5.25%.
Anna Rule, head of property at RPMI Railpen, said: “The Thames Wharf complex offers an attractive and compelling investment proposition.
“In addition, the site has received consent for further development, adding to its long-term value and helping us to meet our mission to pay members’ pensions securely, affordably and sustainably.”
The Michelin-starred River Café has recently renewed its commitment to the property via a long-term lease.
Set on a one acre site with frontage to the River Thames, the majority of the property comprises office accommodation which was previously occupied as the headquarters of Rogers Stirk Harbour & Partners and has since been multilet to a variety of tenants.
The average unexpired lease term is 7.5 years.
Planning permission has been granted for a residential redevelopment that would span more than 80,000 sq ft.
Nightingale Partners represented the purchaser.
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