Orchard Street acquires Old George Mall, Salisbury
30 June 2011
Orchard Street Investment Management LLP, the specialist commercial property investment manager, has acquired Old George Mall shopping centre in Salisbury, Wiltshire, for a pension fund client in a transaction valued at more than £80 million, reflecting a yield of approximately 6.0%. The vendor was Doughty Hanson & Co Real Estate.
Situated in a prime location in the city centre, the Mall comprises a 48 unit, open air shopping centre, totalling 140,000 sq ft, with an integrated 565 space multi storey car park. Anchor retailers include Marks & Spencer, BHS, TopShop, Fat Face, River Island, and Russell & Bromley
Savills acted for Orchards Street Investment Management.
Commenting on the acquisition, Gary Felce, Chief Investment Officer at Orchard Street Investment Management, said:
"This is a premier shopping scheme in an important cathedral city which has shown resilience to the downturn. It combines the benefit of secure income, with reversionary potential, from good anchor tenants with some interesting asset management opportunities and is well positioned to attract additional leading fashion brands."
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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.