Grosvenor and the Canadian Pension Plan Investment Board are buying Lacon House in Midtown, WC1, for around £95m.
The purchase from RREEF will be the first asset the pair have bought through their central London joint venture which was formed in July last year.
CPPIB pledged £190m of equity, while the Duke of Westminster’s fund management arm put in £10m with the aim of investing in offices with asset management opportunities in London.
The 215,000 sq ft Lacon House is let to law firm Nabarro, but it is weighing whether to exit the 118,000 sq ft it occupies at the building ahead of a lease expiry in 2014.
Jones Lang LaSalle is advising RREEF.
Jack.sidders@estatesgazette.com
