Sun Venture has exchanged contracts to buy One New Oxford Street, WC1, from Nuveen Real Estate on behalf of the Central London Office Fund and British Airways Pension Trustees.
It is understood to be paying circa £174m for the 110,000 sq ft property, which is located between Tottenham Court Road and Holborn tube stations.
One New Oxford Street was put up for sale in February with CBRE and a guide price of £180m.
Tenants include retailer H&M, which occupies six of the nine floors, with Amazon subsidiary Twitch, a global video and live streaming service provider, occupying the remaining three floors. The annual rental income is just over £7.7m.
The purchase is Sun Venture’s first outside of Singapore, where it owns and manages around 800,000 sq ft of commercial space.
Sun Venture was advised by Savills and CMS, while Nuveen Real Estate was advised by CBRE and K&L Gates.
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