Orchard Street Investment Management has invested in two UK retail properties for £40.7 million (€48.9 million). The sellers are funds managed by Scottish Widows Investment Partnership.

Orchard Street acquired the 50 percent stake it did not already own in St Catherine’s Walk, a shopping centre in Carmarthen, for £26.5 million (€31.9 million). The 24,900-square-metre property is let to retailers such as Debenhams, Fat Face, New Look, Next, Republic and Topshop.

In addition, Orchard Street has also acquired the B&Q retail warehouse in Stevenage for £14.2 million (€17.1 million). The two-storey, 12,400-square-metre property is let to B&Q for a further 16 years.

The investments were undertaken on behalf of St James’s Place