£67m Smithfield office building bought by OSIM
14 June 2007
£67m Smithfield office bought by OSIM
Orchard Street Investment Management has acquired the long leasehold investment interest in 12 Smithfield from Scarborough Group for £67.2m. The purchase has been made for UK pension fund clients. The 100,000 sq ft office building was completed in 2004, and is mainly let to Travers Smith and Brewin Dolphin, on long leases at average present rents payable of c£11pfs.
Chris Bartram, of Orchard Street, said:
“We are delighted to be able to add this building to our client’s portfolio. We believe that the western edge of the City market offers significant growth prospects over the short and medium term, as current and proposed development nearby demonstrates the convenience and attractions of the area.”
Franc Warwick, and Morgan Pepper acted for Orchard Street, and Lambert Smith Hampton acted for the vendors.
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.