Strong bidding for the British Film Institute's home close to Tottenham Court Road has seen it go under offer for around 34% more than the asking price.
The BFI, via Newmark, is selling 21-28 Stephen Street with a guide price of £26 million.
Market sources said the building has attracted strong interest with a private Serbian investor now under offer at around £35 million.
The BFI is the distributor of National Lottery funds for film. It was founded in 1933 and is a registered charity governed by Royal Charter.
The 36,283-square-foot building was developed for the BFI's occupation in the 1980s.
The interest in the building points again to the strong pull for opportunities close to new Elizabeth line stations as well as to properties with asset management and redevelopment potential.
According to CBRE's latest figures investment volumes for West End offices were subdued in April, totalling £0.2 billion bringing the year-to-date total to £1.6 billion. In the last 12 months to April 2026, investment volumes totalled £6.5 billion, up 9% on the 12 months to April 2025.