Jersey-based investment manager Wainbridge Capital has purchased the long leasehold interest in a West London office building from an unnamed off-shore investor. The investment volume for the FC200 property comes to £16 mln (EUR 18 mln).

Wainbridge carried out the investment on behalf of its London value-add office fund, Wainbridge Global Opportunities London. The equity from the fund was raised from a number of high-net-worth investors, the majority of whom are Russian nationals.

The fund has raised a further £14.5 mln of equity since its first close in September 2010, bringing the fund up to a current total of £64.5 mln of equity which, once leverage is applied, provides £184 mln to invest.

FC200 is a 15,000 m2 partially completed office development situated adjacent to Diageo's International Headquarters in First Central, forming phase two of the West London business park.

Taylor Wessing acted for Wainbridge on the legals and Beadmans on all construction aspects. McFarlanes acted for the vendor on the legals with CBRE acting as the vendor's agent.