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Orchard Street Buys UK Warehouse Portfolio
Orchard Street Investment Management, on behalf of a pension scheme client, has acquired a 48,500-square-metre portfolio of industrial properties in south-east England for £50.4 million (€56.6 million.) The portfolio comprises three multi-let estates in Woking, Maidenhead and Newbury and four single-let properties in Park Royal, Hayes, Milton Keynes and Huntingdon.
“The portfolio provides an attractive income return, which will further increase upon the letting of the vacant units, and also offers a number of opportunities for lease extensions and refurbishments, which will add further value,” says Gary Felce, CIO at Orchard Street.