High Street bank sells 200,000 sq ft office block to Abbey

Developer British Land has sold a 200,000 sq ft office block in London to High Street bank Abbey for £115m.

The building, 2-3 Triton Square, Regent's Place, was constructed in 2002 and is already let to Abbey at a rent of £8.68m per year, giving a yield of 7.2%.

The firm said the remaining 370,000 sq ft of unfinished buildings in the same development will be completed later this year. Tim Roberts, Director of British Land and Head of Offices said: "We remain committed to Regent's Place and will complete our latest, high-class office developments - Regent's Place One and Regent's Place Two - later this year."

Jones Lang LaSalle and SJ Berwin acted for British Land.