The 64,800 sq ft building could now be converted into a hotel and residential complex as they developer seeks to maximise value from the scheme.

Development Securities snapped-up the site from administrators acting on behalf of Lloyds Banking Group.

The developer said: “Whilst the current vacancy rate is 66 per cent, the office building presents a number of options for asset management and enhancement in order to maximise value.

“This may include change of use as one part of the building already benefits from an existing planning permission for hotel and residential redevelopment.”

The 1960’s development consists of two office towers, connected at ground level by a central reception area.

The complex is located 200 metres from Sevenoaks mainline station making it a prime commuter location with direct trains connecting it into London in half an hour.

Michael Marx, Chief Executive, Development Securities said: “This is a very well-located office development offering a number of options for value enhancement.

“This is the fifth asset that we have acquired from administrators acting on behalf of Lloyds Banking Group, the most recent of which was the acquisition of a mixed-use development opportunity in Romford in July this year and before that, the Rock portfolio in October 2010.

“This latest acquisition supports our current focus of recycling an element of our equity into real estate opportunities where we can continue to add significant value.”