EASTHampshire District Council (EHDC) has added to its investment portfolio with a property currently home to Rolls Royce administration services.

Jubilee House, in Derby, is the global administration centre for Rolls Royce’s human resources, finance, procurement and group property departments. Bought for £11.15m, it brings the council’s portfolio to more than £105m. EHDC says the portfolio generates mored than £2m a year for public services.

Developed in 2001, the building totals 72,837 square feet and houses 300 employees.

EHDC leader Richard Millard said: “The building has a long lease and is situated in one of the fastest-growing economic areas outside the south east.

“Our strategy focuses on buying high-quality commercial premises with blue chip tenants and Rolls Royce is one of the world’s most recognised brand names. By carefully growing our well-balanced property portfolio we can generate the income we need to maintain our excellent public services.”

Last month, EHDC said its investment strategy has been “examined and approved by councillors” after concerns were raised about the confidentiality of some of its purchases.