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- September 1, 2011: Vol. 5, Number 8

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Orchard Street Buys UK Shopping Mall

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Orchard Street Investment Management LLP has acquired a UK shopping centre for £80 million (€91 million). The Old George Mall in Salisbury was sold by Doughty Hanson & Co Real Estate, which acquired the 13,000-square-metre property in 2009.

“We have successfully repositioned the tenant line-up at Old George Mall by signing new leases with high-quality fashion retailers and other top-quality High Street brands,” says Julian Gabriel, head of Doughty Hanson.

The open-air shopping centre totals 48 units, with retailers such as BHS, Fat Face, Marks & Spencer, River Island, Russell & Bromley and TopShop.

“This is a premier shopping scheme in an important cathedral city that has shown resilience to the downturn,” notes Gary Felce, CIO at Orchard Street.

 

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