Investment company, British Land Company PLC is the largest trust in the area of real estate investment. It has just announced that they have completed the sale of Triton Square (numbers 2 and 3) at the Regent’s Place development in London. It was sold to Abbey for over £115m and that it showed an initial yield of over 7%.

As reported in the end of December last year, the total value of all the property currently owned by the British Land Company was over fourteen billion pounds.

The Triton Square offices are a part of the greater Regent’s Place estate which is owned by the British Land Company and was developed by them back in 2002.

The estate consists of a total of five buildings with an overall total of nearly one-million square feet in space for desk space, retail and entertainment venues. Currently, even after some lay offs there are still around seven-thousand workers employed on the premises. The part of the development purchased by Abbey is about 200,000 square feet.

Abbey has decided to rent out the building for 15 years at an agreement of almost nine-million pounds a year. The Director of the British Land Company has stated that Abbey is now not only a noteworthy resident in the Regent’s Place development, but also an important stakeholder in the thirteen acre property.

The director also reported that they are committed to the completion of their office developments at Regent’s Place One and Two later in the year.

This move by the owners of the property are coming after a number of measures have been taken by the firms involved in the real estate business to increase capital and boost their financial statements.

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