Orchard Street Investment Management has completed the acquisition of a retail park in Edinburgh, Scotland for £24.5 mln (EUR 28 mln), reflecting an initial yield of 6.2%. The vendor of Straiton Retail Park was BA Pension Fund.

The park comprises a terrace of six retail warehouses and two pod units with a total floor area of 6,600 m2. The current tenants include Laura Ashley, TK Maxx, Dunelm, Carphone Warehouse, Poundworld and Dreams, and there is open planning consent for further expansion.

Established in 2004, Orchard Street is a specialist commercial property investment manager, focused on the UK market. It has assets under management totalling EUR 2.9 bn.