Japanese telecoms giant NTT has bought the long leasehold interest in 20 Finsbury Circus, EC2 from the City of London Corporation.
It paid £43m for the 85,000 sq ft building, reflecting a 7.9% yield and a capital value of £500 per sq ft.
Deutsche bank occupies the entire building on a lease expiring in June 2015. The City Corporation retains the freehold.
Allsop was appointed to market 20 Finsbury Circus in May, after the City Corporation bought the long leasehold interest from Valad in March.
It was sold as part of a portfolio of properties including 42 New Broad Street and 15-17 Eldon Street, both EC2.
The building will be the closest to the new Liverpool Street Crossrail station and is considered a viable refurbishment opportunity, offering the chance to create additional office and retail space.
Savills advised NTT.
All parties declined to comment.
jack.sidders@estatesgazette.com
