LandSec sells Strand building for £195m

Land Securities said it had sold a building on London's Strand to Singapore-based Sinarmas Land for £195m.

The deal represents a net initial yield of 4.2%, the company said on Thursday, adding that the deal is expected to complete later in June.

LandSec said the disposal was in line with its strategy to "accelerate growth through recycling capital into higher return opportunities".