The City Bridge Foundation has sold a historic building it owned in central London to a real estate private equity investment firm for £9.5m.
Finsbury House sold to Eatos Group recently on a 155-year lease after being vacant since 2022. The charity will retain a ground rent.
City Bridge Foundation, London’s largest independent charity funder, said its sale “aligns with our long-term strategy, enabling us to reinvest funds directly back into the charity and into London’s communities”.
A spokesperson for the funder said it takes a “long-term and responsible approach to managing our assets and investments”.
“Our primary responsibility remains the maintenance and operation of London’s bridges, with any surplus funds reinvested to support charities working across the capital,” they said.
“In this way, we continue to literally and metaphorically bridge London - connecting its communities and investing in its future.”
Originally constructed in the 1890s, the building is located at the entrance to the newly landscaped Finsbury Circus and was redesigned by GPAD Architects.
The 39,607 sq ft property has been stripped back to shell and core, with full planning consent for future refurbishment, including the addition of a new roof terrace.
Ahead of works commencing, Eatos Group has secured a pre-let to a flex office operator who will take occupation in early 2027 following completion of the refurbishment.
In a statement, Eatos Group said the purchase “represents a flagship investment and a further addition to Eatos’ strategy of acquiring Grade B buildings in prime locations and repositioning them into Grade A workspaces”.
Dominic Amey, principal, London investment at Avison Young, which acted for the charity on the sale, said: “We’re pleased to have helped bring the right buyer together with the City Bridge Foundation and to see the building move into its next phase.”
According to its accounts for the year to March 2025, City Bridge Foundation’s property investment portfolio, predominantly offices in central London, was valued at £797m and made up 90% of its permanent endowments.
In 2024-25, the 900-year-old funder’s income from its property portfolio and financial investment holdings was £31.2m and it gave out £81.5m in charitable funding.
