Thomas Cook has confirmed the sale of an office in Holland for £15 million as part of a plan to sell £200 million-worth of non-core assets over 18 months.

The property in Hoofddorp was formerly used as an office of Thomas Cook and is currently rented to third party tenants.

It has been sold to FN2 B.V., a company that is part of the Fotex Group for €18 million (£15 million at current exchange rates).

Under the terms of the deal, €11 million will be paid by December 31, €4.2 million by March 31 and €2.8 million will be deposited into escrow account.

“Transaction proceeds will be used to reduce Thomas Cook’s borrowings and/or for general corporate purposes,” a statement said.