The City of London office that is home to financial firms including Macquarie, IHS Markit and MUFG Securities has been sold for £650m to a Singaporean buyer.

Singapore’s Ho Bee Land said its acquisition of Ropemaker Place, completed through its Grandeur Property Investments subsidiary, was a strategic move to take advantage of the introduction of London’s Crossrail, the Moorgate station for which is a short walk away.