NTT Urban Development, a subsidiary of Japanese telecoms company Nippon Telegraph & Telephone Corporation, bought 265 Strand for around £77m.
NTT bought the prime 113,000 sq ft office building from German fund manager MPC Capital for a net initial yield of just under 6%.
The office block was refurbished in 2001 before it was let to US law firm Covington & Burling, whose lease expires this year.
The transaction marked NTT’s third property purchase in the UK, following the acquisition of the long leasehold of 20 Finsbury Circus and 1 King William Street in 2011.
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