The quoted West End developer has adopted a strategy of disposing of mature assets with little prospect of further growth in value.

The latest sales include the King's Walk Shopping Mall, King's Road, SW3. This was bought by O&H Properties for £25.8 million ($41.4 million) at a net initial yield of 6%. The lot includes 120 King's Road, the King's Walk Shopping Mall and a residential block at the rear of the property. There is also 47,300 sq ft of commercial space – let to include Gap, Virgin and Easyinternet Café - 50 flats all sold off on long leases and 69 underground car parking spaces. It generates £1.6 million ($2.1 million) a year in rent.

Then UBS Global Asset Management's Triton Property Fund bought Knollys House & Stephenson House in Croydon for £23.4 million ($37.6 million) at a net initial yield of over 11%. The 180,000 sq ft 1960s office block, adjacent to the East Croydon railway station, produces a gross income of £2.77 million ($4.45 million) a year. Tenants include the Secretary of State for Health, BRB (Residuary) and Jacobs Engineering.

The third disposal was of 350/354 Oxford Street in London's West End to a private Irish investor. The rack rented property includes a retail unit of 14,000 sq ft let to Clinton Cards on a lease until June 2013 at £450 Zone A ($722.7 million). The upper floors of the building are let on a 110-year lease at a fixed peppercorn rent to a hotel operator. The investor paid £25.4 million ($40.8 million) reflecting a net initial yield of 5.8%.