Warner Estate Holdings has sold its St Johns Wood High Street estate for £39m.

The unnamed buyer bought the holding company of the asset JS Real Estate Limited.

Warner held the asset on its books at £48m and it contributed £2.1m of net annual rent for the year ending 31 March 2008.

Warner will use the proceeds to pay down debt.

Warner said it has sold a total of £120m of property since 30 September 2008.