NFU Mutua© Tim Scrivener

NFU Mutual has sold a property on London’s Old Bond Street for £141m, having bought the building for £9m in the mid-1990s.

The property was part of the Mutual’s £2bn property investment holding.

“This portfolio is part of NFU Mutual’s total assets under management, which at the end of 2017 were worth £20bn,” said Tom Bostock, investment manager at NFU Mutual.

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“These assets are invested in a wide range of holdings – including shares, bonds and cash – to provide security and growth potential for NFU Mutual’s members.”

Strong investment returns are good for both pension and investment product customers, but also for general insurance customers, he said.

The building attracted global interest and was sold to the Italian owners of the Max Mara fashion group.