A weekly round up of the latest property news from the central London boroughs

Camden

Legal & General has exchanged contracts this week to buy Whitbread’s ‘hub by Premier Inn’ hotel at Kings Cross for £84.5m. The sale price reflects a yield of just under 4% on annual rent of £3.5m. Legal & General has paid £46.5m on exchange and further staged payments will be made during the construction period.

City of London

Singaporean developer Hoi Hup Realty has agreed terms to buy 63 Queen Victoria Street for around the asking price of £34m, reflecting a net initial yield of 5%, from the South Yorkshire Pensions Authority.

City of Westminster

British Land has exchanged contracts to sell Debenhams flagship store on Oxford Street for £400m to a private investor. The seven-storey building at 334-348 Oxford Street is let in its entirety to Debenhams until 2039.