Orchard Street Investment Management has bought Dunn’s Hat Factory in Camden, north London, from Columbia Threadneedle for £25.3m.
The off-market transaction was on behalf of St James’s Place Property Unit Trust, with the purchase price reflecting a net initial yield of 4.3%.
The 35,352 sq ft of office space is spread across six floors with two further storeys of residential. The property, which is 13% vacant, includes a 1,604 sq ft ground-floor suite that has both office and retail consent.
Michael Elliott advised Columbia Threadneedle; Orchard Street was unrepresented.
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