Orchard Street Sells London Asset
Orchard Street Investment Management, on behalf of the Orchard Street UK Special Situations Fund, has agreed to sell 60 Cannon Street in London for £30.9 million (€35.3 million). The property was acquired by pension fund clients of DTZ Investment Management.
Barney Rowe, partner and fund manager of the Orchard Street UK Special Situations Fund, says this is the first disposal by the fund, which comprises a total of £160 million (€183 million) of assets. “At the present time we do not envisage disposing of other assets from the fund,” adds Rowe.
In other news, Orchard Street has acquired the Cardiff Bay Retail Park for £54.5 million (€62.3 million) from Invista Real Estate Investment Management and