Great Capital Partnership, the joint venture between Capital & Counties Properties (CCO, Capco) and Great Portland Estates plc, has sold 26/40 Kensington High Street for GBP62.5 million.

The property, sold to The Khoo Teck Puat UK Foundation, produces an income of about GBP3 million per year.

The partnership also sold 67/75 Kingsway to Threadneedle UK Opportunities Property II LP for GBP16.58 million.

The freehold property comprises over 30,500 square foot of retail and office accommodation.

Ian Hawksworth, chairman of Great Capital Partnership and chief executive of Capco, said: "These sales are in line with our ongoing approach of recycling capital from mature assets and represents a continuation of the joint venture's strategy to focus on its core West End holdings on Piccadilly, Regent Street and Park Crescent."

Source: I-Net Bridge