Derwent London has purchased Angel Square, Islington EC1.
The vendor was an overseas investor and the sale price was apparently £75.03m before costs.
Angel Square is located opposite its Angel Building EC1 and the building comprises three multi-let connected buildings around a central courtyard.
The building, in London’s tech-hub has 130,000 sq ft of office space above Angel underground station.
Rents on the let space range from £10 to £30 per sq ft, with an average of £21.68 per sq ft.
The majority of the leases expire in March 2015. The net initial yield is 3.05%, which reflects a capital value of circa £610 per sq ft after costs.