Wing Tai Properties Ltd (ASX: 00369) has announced a proposed property sale.

The company disclosed that its wholly-owned subsidiary, New Ego Limited, has entered into an agreement to sell a freehold property located at 1 Savile Row, London W1S 3JR, with title number 164977, to NPLH SVR Ltd for a consideration of £31 million.

The property comprises prime office and high-end retail space, with a net internal area of approximately 14,000 square feet.