GPE has sold its 293/295 Oxford St. and 14 Hanover Sq. to Prudential for euro 52.49 million ($65.96 million). The euro 24.23 million ($30.45 million) will be paid in cash by GPE. These assets comprise 26,600 sf of offices and retail and produce a rental income of euro 2.5 million ($3.7 million).

Together with 65/71 New Bond St. and the adjoining properties at 18/19 Hanover Sq., which were purchased in August, GPE has now assembled a 1.2-acre land holding bounded by Hanover Square, Tenterden Street and New Bond Street.

"Our swap transaction with Prudential completes the assembly of two prime West End holdings," says Toby Courtauld, chief executive of GPE. "Both sites offer good scale, are located in rapidly improving micro-locations and have plenty of interesting opportunities to explore. The sale of 293/295 Oxford St. and 14 Hanover Sq. is in line with our strategy of recycling capital out of mature assets."