The refurbishment of Quorum was only completed three months ago and was pre-let to the Department of the Environment, Transport and the Regions. The building totals 22,000 sf of Grade A offices. It is pre-let to the Secretary of State at a rent of £39.90 ($55.45) per sf on a 25-year lease, with a tenant's break at year 15.

The price paid of £12.8 million ($17.66 million) shows an initial yield of 6.42% and includes the freehold of 32 Smith Square, which is sold on a long ground lease to the Conservative Party as its Central Office.

GVA Grimley represented the vendor, a consortium headed by London & County Estates. Chris Gillum, head of central London investment at GVA Grimley, said: 'This sale is further evidence of the strength of the investment market for well-let stock in the West End. Even though we never formally went to the market, we had a number of other parties who expressed strong interest in bidding.'