Whitbread has agreed to sell its Chiswell Street brewery site to Earls Court & Olympia Group for £55m. The figure is at the top end of expectations and includes the conference and banqueting facility. Alan Parker, chief executive of Whitbread, said: "We have previously announced our strategy to exit from non-core parts of our business and made clear our plans to dispose of the Chiswell Street site. This has been achieved at a sale price above book value." The transaction is expected to complete in early October. Whitbread will use the proceeds to help pay for a £400m share buyback.