Orchard Street Buys UK Assets
Orchard Street Investment Management LLP recently acquired four UK properties on behalf of its St James’s Place property funds. In London, Orchard Street acquired 61–65 Conduit Street for £36 million (€43.7 million), representing a net initial yield of 4.7 percent. The 3,000-square-metre property in the West End, which was sold by Threadneedle Investments, includes office and retail space across the ground and five upper floors.
“This is a high-quality asset and an excellent addition to the St James’s Place portfolio,” says Chris Bartram, chairman at Orchard Street. “The West End office market is one of the few areas with genuine prospects for rental growth, and 61–65 Conduit Street is well placed to benefit from this.”
Orchard Street also acquired a retail park in Edinburgh; Straiton Re