Orchard Street acquires 61-65 Conduit Street, London, W1
30 November 2011
Orchard Street Investment Management LLP, the specialist commercial property investment manager, announces that it has exchanged contracts to acquire 61-65 Conduit Street, London, W1, from Threadneedle Investments for £36 million, reflecting a net initial yield of 4.7%. The acquisition was made on behalf of St James’s Place property funds.
The property, in the heart of London’s West End, is fully let and provides a total of 32,000 sq ft of office and retail space across the ground and five upper floors.
Commenting on the acquisition Chris Bartram, Chairman at Orchard Street said,
"This is a high quality asset and an excellent addition to the St James’s Place portfolio. The West End office market is one of the few areas with genuine prospects for rental growth and 61-65 Conduit Street is well placed to benefit from this."
END
For more information:
Dido Laurimore/ Talia Shirion
FTI Consulting
+44 (0)20 3727 1000
osim [at] fticonsulting.com
Notes to Editors:
Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market with £4.2 billion of AUM (as at 30 June 2022). It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial warehouses, retail warehouses, and offices.