31. Juli 2012 
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Orchard Street acquires Greenwich industrial estate from Aviva Investors
Orchard Street Investment Management LLP has exchanged contracts to purchase City Cross Business Park in Greenwich from Aviva Investors, for £21.1 million, reflecting a net initial yield of 6.25%. The acquisition was made on behalf of a pension fund client of Orchard Street.
City Cross Business Park comprises a logistics unit and six further warehouse units totalling 175,096 sq ft. Fully let to five tenants with average unexpired lease term of 11.5 years, the industrial estate has a total rental income of £1.39 million, reflecting an average £8.25 per sq ft.
The prime, modern industrial estate is situated on Greenwich Peninsular, in close proximity to the City, Canary Wharf and suburban London. Located adjacent to the A102 Blackwell Tunnel Approach, the site also offers easy access to north and south arterial routes.
Aviva Investors were advised by DTZ. DTRE advised Orchard Street.
City Cross Business Park comprises a logistics unit and six further warehouse units totalling 175,096 sq ft. Fully let to five tenants with average unexpired lease term of 11.5 years, the industrial estate has a total rental income of £1.39 million, reflecting an average £8.25 per sq ft.
The prime, modern industrial estate is situated on Greenwich Peninsular, in close proximity to the City, Canary Wharf and suburban London. Located adjacent to the A102 Blackwell Tunnel Approach, the site also offers easy access to north and south arterial routes.
Aviva Investors were advised by DTZ. DTRE advised Orchard Street.
