The fund, which is mainly backed by European investors, has purchased the Covent Garden headquarter building for approximately £80 million, a net initial yield of sub 4.5 per cent.

The 36,000 sq ft office is leased to Facebook until 2018, on assignment to Expedia. A further 30,000 sq ft on the ground floor is let to retailer Urban Outfitters and the Belgian restaurant Belgo.

In 2012, Colliers advised the Spanish investor on purchasing the building from Draco Properties for £62 million, a net initial yield of 5.45 per cent. The block provides a total rent of approximately £3.6 million.

Colliers International advised Allegra European Holdings and H2SO (now part of Colliers International) advised CBRE Global Investors.