M7 Real Estate has bought Cromwell House in Lincoln for £1.4 million, the former HMRC office off Tritton Road.
The HM Revenue and Customs office on Crusader Road was closed in 2016 and the property is on the market.
This purchase is part of the firm’s REIP VI discretionary fund, with an investment portfolio worth £30.8 million.
The property has been purchased as an income producing investment with a lease expiry in 2026.
New owners said they are exploring various asset management initiatives as the building is currently on the market being offered by way of sub lease or assignment.
Will Hunting, Acquisitions Manager at M7 Real Estate, said: “We are delighted to add Cromwell House to our portfolio.
“Our thanks to Commercial Property Partners (CPP) for their work and expertise in identifying this opportunity.”