Standard Life, advised by Strutt & Parker, has sold the freehold interest of New Horizons Court, Brentford, to Greenhills Real Estate Ltd for £74 million, reflecting a net initial yield of 6.00%.

The 170,897 sq ft landmark office campus is let to three separate tenants and comprises four self-contained office buildings and nine courtyard buildings arranged in two terraces.

Blocks A - D and courtyard buildings D1 – D7, totalling 162,507 sq ft, are let to SmithKline Beecham Plc on leases to effectively to expire in March 2016 and subject to breaks providing income security to June 2013. The current passing rent is £4.57 million. SmithKline Beecham Plc has sub-let its entire office accommodation to British Sky Broadcasting Plc.

Two of the terrace units, comprising only 3% of the total income, are let separately to Drake Maritime and Kokusai Electric Company.

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