Orchard Street Investment Management LLP is set to buy a number of London office buildings in the centre of the capital’s insurance district in a deal worth a reported Â£50m.
The commercial property investment manager is looking at the prospect of redeveloping the properties on Lime Street and could potentially look into constructing a new tower opposite Lloyd’s Building.
The purchase is for both the 36,000 sq ft office building at 37-39 Lime Street and also the 84,000 sq ft London office building on 40 Lime Street. 37-39 Lime Street is a Grade II listed building, but 40 Lime Street is not.
Both buildings are located within an area known as ‘Tower Cluster’ – an area in the City of London identified as a prime location for high-rise developments.
In total, 23 tenants occupy the development at present including Mapfre Global Risks, W.R. Berkley Decus Insurance Brokers and Skuld Services Ltd amongst others.
Orchard Street Investment Management LLP is a leading commercial property investment manager, with a particular focus onÂ the UK market. It acts on for institutionalÂ clients across the globe in order to advise on investing in and the active management of UK commercial property assets.
The firm currently has assets under management totalling a reported Â£3.3 billion according to the latest figures from its website.
By: Kirsty MacGregor
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