Portsmouth City Council acquired business campus Lakeside North Harbour from Northwood Investors for £138m in an off-market transaction.
The purchase was one of the largest by a local authority that year.
The campus sits on a 120-acre site in Portsmouth and includes 594,000 sq ft of offices, 3,000 parking spaces and 8.7 acres of development land.
It is let to more than 80 occupiers including IBM, LexisNexis and Babcock International.
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