Orchard Street acquires West End offices

£36m paid to Threadneedle Investments for 61-65 Conduit Street

Article posted: 01 Dec 2011

Orchard Street Investment Management LLP, the specialist commercial property investment manager, has exchanged contracts to acquire 61-65 Conduit Street, London, W1, from Threadneedle Investments for £36 million.

The acquisition reflects a net initial yield of 4.7% and was made on behalf of St James’s Place property funds.

The property comprises 32,000 sq ft of primarily office space in the heart of London’s West End. It is fully let and includes retail space across the ground floor.

Commenting on the acquisition Chris Bartram, Chairman at Orchard Street said, “This is a high quality asset and an excellent addition to the St James’s Place portfolio. The West End office market is one of the few areas with genuine prospects for rental growth and 61-65 Conduit Street is well placed to benefit from this.”