The building, in Old Street in the north of the city, has been acquired by CAN Mezzanine, a firm which specialises in providing office space for shared use by different businesses. The Old Street site will have capacity for 80 separate firms over 36,000 square feet and will offer conference facilities and meeting rooms to both local businesses and firms from further afield.
Andrew Croft, chief executive of CAN, said: "The banks we are working with have acted prudently and therefore are in a strong position to work with ambitious social enterprises like CAN Mezzanine."
CAN, a charitable social enterprise, purchased the north London venue using a £10.5 million fund generated largely by Triodos Bank, an ethical financier.
The acquisition means that CAN operates a total capacity in excess of 200 businesses and is now planning a fourth acquisition in Croydon.
According to croydontoday.co.uk, Gareth Thomas, the trade minister, will be visiting Croydon in the next few weeks to recognise the town's growing business reputation.