The estate, comprising 600,000 sf in 12 office blocks, was put on the market by JPMorgan and US fund manager O'Connor Capital. The buyers completed the deal in less than a week, and exchanged contracts to buy the campus last Saturday. The deal is expected to complete in the next few weeks.
The purchase price reflects a yield of around 4.7%. It had been put on the market last month for £400 million. London-based developer City Offices, which asset manages the scheme, is expected to be retained by Rockpoint.
Greycoat originally developed the campus in the 1980s when under the leadership of Sir Stuart Lipton and Geoffrey Wilson. The estate is currently undergoing a major refurbishment. A deal has been signed with fashion brand Missoni to locate its first English hotel at the scheme.
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