Aviva Investors has bought the headquarters of BBC Worldwide in London for its long-lease fund.
The investment manager said it paid £67m (€93.4m) for the office asset on behalf of its long-lease, open-ended Lime Property Fund.
BBC Worldwide has taken a 25-year lease on the building.
Stanhope and Mitsui Fudosan sold the asset at a 3.75% net initial yield.
The five-floor property, built in 1990 and part of the ongoing White City regeneration, has been refurbished.
Renos Booth, manager of the Aviva Investors Lime Property Fund, said the building was a great addition to the fund’s portfolio.
“White City is undergoing significant regeneration,” Booth said. “The area is becoming increasingly attractive to occupiers looking for high-quality accommodation in the capital.”
Lime, launched in July 2004, has more than £1.4bn under management.
Aviva said the fund generated a secure and consistent income return by investing in assets with a high concentration of rents that are either inflation-linked or have pre-agreed fixed uplifts.
Alistair Shaw, managing director at Television Centre, said: “White City is a great place to invest, and we are delighted to welcome Aviva Investors as part of the Television Centre redevelopment, which has all the components to create a great place.
“The new BBC Worldwide HQ is the first part of that regeneration to be completed, and there will be a further 400,000 sq ft of new Grade-A office accommodation delivered at Television Centre over the next two years.
“Demolition is already underway at Television Centre and, with a new Soho House club and hotel and 950 new homes, it will truly be a core driver for the regeneration of the exciting and up-and-coming White City area, creating thousands of jobs.”