Orchard Street acquires office building in London's Soho

Orchard Street Investment Management has closed the acquisition of 33 Golden Square in Soho, London, on behalf of St James’ Place Wealth Management.

The asset was bought from a client of BNP Paribas for £23.5 mln (€28 mln).

The 17,198 sq ft (1,600 m2) office building, which is arranged over a lower ground, ground floor and over six upper floors, is currently fully let to Clear Channel UK as its UK headquarters on a lease which is due to expire in June this year.

Originally constructed in 1989, the property offers a number of value accretive asset management initiatives, according to Gary Felce, partner at Orchard Street. 'This core office building, located in an area of Central London that has become increasingly sought after as the destination of choice by tenants in the media, TMT, corporate and financial services sectors, provides an excellent opportunity for us to reposition the asset for further growth,' he said.

Hanover Green represented Orchard Street and BNP Paribas advised the vendor.