Orchard Street Investment Management LLP has agreed to buy two industrial estates in the United Kingdom.

In Greenwich, Orchard Street has agreed to acquire the 16,300-square-metre City Cross Business Park from Aviva Investors for £21.1 million (€26.6 million). The acquisition, reflecting a net initial yield of 6.25 percent, was made on behalf of a pension fund client of Orchard Street.

Orchard Street has also acquired Cobbett Park, Slyfield Industrial Estate, Guildford, on behalf of a pension fund client. The 11,650-square-metre property was sold by Legal & General Property’s Industrial Property Investment Fund for £19 million (€23 million), at a net initial yield of 6.16 percent.

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