The British Land Company said Friday that it has completed the sale of 2-3 Triton Square, Regent's Place, London NW1, to Abbey, for GBP115 million, reflecting a net initial yield of 7.2%.

The 200,000 sq ft Grade A office accommodation was developed by British Land in 2002 and is let in its entirety to Abbey on a lease expiring in April 2022.

The current passing rent is GBP8.68 million per annum.

Tim Roberts, Director of British Land and Head of Offices said: "The sale is in line with our strategy to recycle capital towards opportunities which will offer greater risk adjusted returns in the future."