A company controlled by the Prince of Brunei, whose family's property holdings have been the subject of boycotts from gay and lesbian groups, has snapped up a city office owned by Victoria University in a $23.6 million deal.

The Singaporean-listed company, backed by Prince Abdul Qawi of Brunei, out-muscled offshore and local buyers to snare the seven-level office used by the university for education and administration purposes.

The Poulakis family has bought 301 Flinders Lane for $34m

Prince Abdul is the eight in the line of succession to the Bruneian throne in a tiny oil-rich state, which is surrounded by Malaysia, on the South China Sea.

Forbes ranks Brunei as the fifth-richest nation out of 182, based on its petroleum and natural gas fields, according to Wikipedia.