Strutt & Parker has sold Staples Corner Business Park, on behalf of Orchard Street, to Standard Life for £44m, representing a net initial yield of 6.23%.

The property covers 13.8 acres; comprising 19 units with a total internal floor area of 331,426 sq ft and is extremely well located at the junction of the North Circular Road and the A5, Edgware Road. The site comprises industrial, trade and retail warehouse uses and is fully let to 17 tenants with rents averaging £8.33 per sq ft for the industrial/trade counter units and £12.20 per sq ft for the retail warehousing units.

James Fairweather, Head of Industrial at Strutt & Parker said: "The price achieved for this investment exemplifies the continuing strong demand for well-located Greater London industrial estates."