Orchard Street Buys UK Shopping Mall
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.