Orchard Street acquires Stadium Retail Park, Wembley
25 November 2013
Orchard Street Investment Management LLP, the specialist commercial property investment manager, has acquired Stadium Retail Park, Wembley for £14.2 million from Quintain Estates and Development PLC. The purchase, reflecting a net initial yield of 5.6%, was made on behalf of St. James’s Place Wealth Management.
The retail park, which covers 37,400 sq ft, is located close to Quintain’s Wembley Park development and is fully let to Curry’s, Maplin, Lidl, JD Sports and McDonald’s. The annual passing rent is £840,150 and long occupational leases are in place on all units.
Gary Felce, Partner at Orchard Street, commented:
“This is an excellent purchase for St. James’s Place Wealth Management, combining both steady income and growth potential in an exciting Greater London property market that is set for significant investment.”
END
About Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market with £2.7 billion of AUM (as at 30 June 2024). It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial warehouses, retail warehouses, and offices.