Orchard Street has deployed £200m for its recently launched UK Decarbonisation Impact Fund within six months of launch. The Fund follows a decarbonisation-led active management approach.
Recent acquisitions, which are expected to support reduced occupier costs, included two off-market transactions.
The fund acquired a three-asset portfolio comprising two prime South East industrial estates and a regional retail warehouse park. The industrial assets are Cox Lane Industrial Estate in Chessington and Avro Way Industrial Estate in Weybridge. Together, the two estates provide more than 225,000 sq ft of modern industrial space and are let to strong covenants, offering reversionary potential.
The portfolio also includes Junction One Retail Park in Rugby, a 204,000 sq ft scheme extending across 19.9 acres and is located at Junction 1 of the M6. Anchored by B&M and The Range, the park accommodates a range of national retailers and several drive-through restaurants. It benefits from an affluent catchment. The asset was purchased for around £37.5m.
In a separate transaction, the fund acquired Fairway Industrial Estate in Feltham, a standalone, 100,000 sq ft multi-let industrial estate located close to Heathrow Airport.