UK investment manager Orchard Street has acquired the office property 61-65 Conduit Street in London W1 from Threadneedle Investments. The investment volume of £36 mln (EUR 42 mln) reflects a net initial yield of 4.7%.

The acquisition was made on behalf of St James's Place property funds.

The property, in the heart of London’s West End, is fully let and provides just under 3,000 m2 of office and retail space across the ground and five upper floors.

On Tuesday, Orchard Street said it had completed the acquisition of a retail park in Edinburgh, Scotland for £24.5 mln (EUR 28 mln) on behalf of St James's Place property funds.