X-Leisure Fund has today agreed the sale of the O2 Centre in London’s Finchley Road for £92.5m.

The centre has been bought by Simon Conway and Anthony Lyons’ Matterhorn Capital at a net initial yield of 7.83%.

Hugh Scott-Barrett, chief executive of Capital & Regional, which holds a 19.4% stake in X-Leisure and is its property asset manager, said the sale was ‘part of a broader strategy to strengthen the financial base of the X-Leisure Fund’.

Jones Lang LaSalle acted for X-Leisure and David Baroukh Associates acted for Matterhorn.