INDUSTRY NEWS

Office space in Soho amongst the three new purchases by Orchard Street

A property investment group has purchased three major properties in London and its surrounding areas.

Orchard Street Investment Management has made all three purchases on behalf of St Jame’s Place property fund.

The first property at 1-5 Poland Street, Greater London, was purchased from M&G for £30.4m.

The office and ground floor retail unit provides around 27,016 sq ft of office space in Soho.

It is currently let to Williams Lea Group on a 15 year lease.

Orchard Street investment manager, John Humberstone, said: “1-5 Poland Street is a high quality asset which benefits from a strong tenant and a prime location in the West End. Soho is one of the most vibrant business and retail districts in London.

“It continues to appeal to the creative industries and is fast becoming the destination of choice for many corporate and financial occupiers. This is a great addition to the St James’s Place portfolio.”

The firm has also invested £8.75m into purchasing 75 Farringdon Road from Stonehaven on behalf of St Jame’s Place property fund.

Located in the heart of Clerkenwell, the building offers approximately 23,008 sq ft of office space across a building consisting of a lower ground, ground and six upper floors.

Completing the trio of purchases, the firm has also purchased Chelmsford Industrial Estate, Tattersall Way, Essex from Legal & General Property’s Industrial Property Investment Fund for £9.15m – again on behalf of St James’s Place property funds

Orchard Street Investment Management LLP was established in 2004 and is a commercial property investment manager focused on the UK property market, it currently has assets under management of over £3bn.

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