Orchard Street invests £65m in UK leisure asset

Orchard Street Investment Management has invested £65m (€75.5m) in a UK leisure asset.

The Cornerhouse in Nottingham was bought for wealth manager St James’s Place.

Land Securities sold the 201,000 sqft property.

Barney Rowe, partner at Orchard Street, said the firm is confident it can extract value over the long-term in the sector.

“The Cornerhouse is a strong leisure asset with an impressive line-up of tenants, located in a city centre that is underpinned by strong demographic trends including urbanisation and a flourishing university population,” he said.

The scheme is anchored by a 14-screen Cineworld and 11 restaurants, two bars, a nightclub and a casino.