British Land is selling a central London retail asset for 拢400m (鈧�469.3m).
The listed UK property company exchanged contracts on its 334-348 Oxford Street asset with a private investor.
The seven-storey building, near Bond Street Underground station, is fully let to retailer Debenhams until 2039.
Since the UK鈥檚 vote to leave the European Union last month, British Land said it has exchanged 11 long-term retail leases totalling 50,000 sqft and worth 拢2.1m in rent, on terms agreed prior to the vote.
Chief executive Chris Grigg said British Land had entered the period of post-referendum uncertainty in a 鈥渞obust position鈥�.
鈥淲e have a strong, resilient business with a clear strategy,鈥� he said.
Grigg said the company鈥檚 portfolio was 99% occupied, with a 鈥渨ide range of quality occupiers on long leases鈥�.
鈥淭he group has no refinancing requirement for over four years,鈥� he said.
鈥淥ur speculative development commitments are low at 4% of the portfolio, and we have considerable flexibility in our development pipeline.鈥�
British Land has agreed to sell 拢99m of retail assets since March this year, including 拢79m of superstores.
