The sale of the building at 40 North Street to a local investor was confirmed by Kingsbridge Estates, a property development company based in Tangmere.
Chris Fry, chief executive officer of Kingsbridge Estates, said it was ‘a significant transaction’.
No further information about the sale was available, a spokesman for Kingsbridge confirmed.
Earlier this year, Kingsbridge gained planning consent to convert the building, currently let to Jack Wills and Handelsbanken, from retail to office use – read more here.
The plans would see the building refurbished and all three floors used as office space.
The building would also be made more accessible with the installation of a ramp and lift inside the building.