The Regent Street partnership between Norges Bank Real Estate Management and the Crown Estate have bought the long leasehold at 10 Piccadilly, W1, for £129m from Standard Life.
The Crown Estate already owned the freehold on the 98,660 sq ft property before the deal with Standard Life owning a leasehold interest with a 68-year unexpired term.
No financing was used in the deal, and the building is held without debt.
In December, Estates Gazette reported that the two companies were buying both 10 Piccadilly and 11-12 Charles II Street, SW1.
The two partners have an agreement whereby they have to look at assets together first when they are in close proximity before being allowed to invest individually.
Earlier last year Karsten Kallevig, chief executive of Norges Bank Real Estate Management, told Estates Gazette that the Brexit vote had not deterred him from investing in the UK.
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