Norges Bank Investment Management has gone under offer to buy the Mayfair office block it occupies, for close to £190m.
It has agreed to buy 74,573 sq ft Queensbury House, from Italian investor Sorgente Group, Estates Gazette understands.
West End sources said a deal close to the £190m guide price for the 3 Old Burlington Street, W1, building, was advanced.
Norges occupies more than 17,000 sq ft at the building, where tenants also include Summit Partners.
When the building was formally put on the market in June, Anthony Barnard, head of West End investment at Knight Frank, which is selling the property said: “Queensberry House represents a unique opportunity for an investor to acquire one of Mayfair’s finest office buildings, its rare freehold tenure and low passing rents offer an excellent opportunity to benefit from rising rents in the West End.”
The property will complement Norges’s surrounding West End assets, which it acquired in August, when it bought a 64.2% holding in the Pollen Estate for £381m, in partnership with the Crown Estate .
Sorgente Group bought the block for £167m in summer 2012.
CBRE is understood to be acting for the buyer. All parties declined to comment.
