Orchard Street Investment Management has invested £150m (€209m) on behalf of a pension fund in a portfolio of regional UK assets.
The investment manager said it completed the acquisition of the Alhambra Portfolio, comprising seven prime commercial assets, bought at a net 5.5% initial yield from a private investor.
Six of the seven assets in the 805,519 sq ft portfolio are in the South East.
Gary Felce, partner at Orchard Street, said the acquisition was a rare and exciting opportunity to secure a diversified mix of prime commercial properties in highly sought-after areas of the UK’s South East and East Midlands.
“All assets benefit from excellent fundamentals and exceptional covenant strength, whilst presenting attractive prospects for future income growth,” Felce said.
Assets include a distribution facility near London leased to supermarket retailer Tesco, as well as five regional office properties.
The portfolio has a weighted average unexpired lease term of 17.4 years.
Related Companies
- Previous
- Next
