Southwark Council has acquired Courage Yard in Shad Thames, SE1, from Columbia Threadneedle.
The property, which includes seven buildings across a 2.2 acre freehold site, was put on the market in September with JLL for more than £89m, representing a net initial yield of 5%.
It comprises 67,900 sq ft of office space let to Zoopla Property Group on a 13-year lease ending in 2031, 17,900 sq ft of retail space and 160 residential units.
The combined income for Courage Yard is around £4.75m per year with 73% of the total rent payable by Zoopla.
Southwark Council and Columbia Threadneedle have been contacted for comment.
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