Commercial property investment firm Orchard Street Investment Management has announced the acquisition of Cardiff Bay Retail Park.
Orchard Street paid Invista Real Estate Management and Schroders £54.5m for the site, which is home to the Welsh Government and is Europe's largest waterfront development.
In a statement released today by Orchard, Gary Felce, the company's chief investment officer, said: "The combination of tenants, a secure income profile and some interesting asset management opportunities make Cardiff Bay Retail Park an excellent investment opportunity.
"In the past few years the Cardiff Bay area has developed a first class profile with significant residential, commercial, leisure and retailing facilities. We are very excited to have made this acquisition in what is clearly one of the most dynamic locations in Wales."
Other retail purchases made by Orchard in the past six months include the St David’s Retail Park in Bangor, North Wales, the Old George Mall shopping Centre in Salisbury, Three Spires Shopping Centre in Lichfield and the Market Walk Shopping Centre in Chorley.
