Spelthorne Council is in talks to acquire property in the City and Nine Elms in south-west London.
It is understood that the council is in discussions to buy 100 Cheapside, EC2, from Aberdeen Standard Investments for around £140m.
In addition, the council is in talks to acquire One Embassy Gardens, SW8, from Ballymore.
Aberdeen Standard investments instructed HFF to sell 100 Cheapside, a 100,000 sq ft grade-A office and retail building, for £136m, reflecting a yield of 4.25%, in November.
The building is fully let for 10.5 years at an average rent of £65 per sq ft to occupiers including law firm Goodwin Procter and construction firm Ashtead Group.
It was acquired by Standard Life in 2014 for £95.5m from Quadrant Investment, Orion Capital Mangers, Carvel investment and the City of London, according to Radius Data Exchange.
Ballymore put One Embassy Gardens, SW8, up for sale with a price tag of around £160m through JLL and Savills. The 156,000 sq ft building sits in its Embassy Gardens residential development around the new US Embassy in Vauxhall.
Spelthorne Council declined to comment.
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
