Strutt & Parker has announced the completion of a sale, on behalf of Thackeray Estates, of a £10.5m commercial estate.

The portfolio, located in the London Borough of Kensington and Chelsea, comprises two properties located at 8-10 Kensington Square, W8 and 159-165 Old Brompton Road, SW5.

Strutt & Parker sold the estate to Brett Palos Investment and Alberti Prime, with a net initial yield of 4.23% and with 14 commercial and 10 residential tenants; a total passing rent of £460,360.

The estate presents a number of asset management opportunities including planning consent to convert the upper parts of Old Brompton Road into 15 private residential apartments.