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Topland sells government-leased London building for £154M

Topland Group sold the freehold interest in the building housing the Central Family Court for London for £154 million, Property Week reported.

The buyer of the 112,274-square-foot property at First Avenue House in High Holborn is an unnamed investor from Asia, according to the March 1 report.

The property is fully let to the government until September 2038, with fixed yearly rent increases of 2.5%, and serves as a courtroom for cases related to matrimonial and family issues and probate.

The property was unsuccessfully placed on the market for £130 million in 2013, then again in 2015 for £145 million.

The seller was represented by Savills, while Knight Frank acted on behalf of the buyer.