The former Daily Mirror printing works Herbal House has been bought by Aerium and Allied London for £26.1m.

The 114,000 sq ft, seven-storey property in EC1m is let to the University of the Arts London until December 2013 at a rent of £1.48m per annum.

The property was originally on the market for £23m. The £26m price tag reflects a capital value of £240 per sq ft.

Robin Carr, director at Aerium, said: “We are keen to make investments in strategic areas of London, in which we see increased demand going forward.”

Pilcher Hershman and Frank Warwick introduced advised the purchaser. Gerald Eve and Phillip Ross Solicitors acted for the vendor.