Commercial property giant British Land has sold a three-quarters stake in three London West End buildings to asset manager Allianz Real Estate for just over £400million.
It also agreed to form a joint venture where the FTSE 100 firm will continue to manage the buildings based in Marylebone - and collect an asset management fee, though it will only control a quarter of the new partnership.
The three premises are primarily office space and have a combined 310,000 square feet between them and were valued at more than £500million in late September.
British Land runs the West London office and retail development Ealing Broadway