Orchard Street Investment Management is launching a new £250 mln (€304 mln) investment programme in partnership with an unnamed Middle Eastern investor to acquire UK commercial real estate.
Orchard Street Investment Management is launching a new £250 mln (€304 mln) investment programme in partnership with an unnamed Middle Eastern investor to acquire UK commercial real estate.
The programme will aim to acquire assets which have the potential to generate a net income return in excess of 6% per annum over the longer term. The capital is expected to be deployed over the next 12-24 months.
'We are thrilled to have been chosen by this investor to assist them with the UK aspect of their wider investment programme,' commented Philip Gadsden, managing partner of Orchard Street, adding: 'In 2013 we witnessed a marked improvement in business sentiment in the UK real estate market.'
Gadsden said he expected the company to be extremely active this year on behalf of all its clients. 'We anticipate the growing trend of allocations to the sector to continue and we would hope to match or exceed the £750 mln we transacted in 2013,' he noted.
Established in 2004, Orchard Street Investment Management is a specialist commercial property investment manager focused on the UK market. It currently has assets under management totalling £3.5 bn.