Grosvenor is selling a central London property to Beijing Capital for £96.5m (€111m).

The privately-owned group said its Grosvenor Europe operating company has agreed the sale of Fleet Place House in London’s City district to Beijing Capital Development Holdings.

Grosvenor said domestic UK, American and Asian investors had bid for the 91,955 sq ft property, which includes office and retail space.

The asset was held in the Grosvenor London Office Fund (GLOF), having been bought by the vehicle in 2013.

Scott Rowland, fund manager at Grosvenor, said: “Since purchasing Fleet Place House, Grosvenor has upgraded both the asset and the income profile, driving income growth and delivering very attractive returns to our investors.”

Tenants include Just Eat, Samsung, Pret and Starbucks.