ORCHARD STREET BUYS MANCHESTER ARENA TRAVELODGE

On behalf of St. James Place Property Unit, Orchard Street Investment Management has acquired the Travelodge Manchester Central Arena Hotel from the BP Pension Fund for £14.2 million in an off-market transaction. The 200-room hotel, which was developed in 2010 on the site of the former Boddington’s Brewery, is operating under a 35-year lease to Travelodge. Barney Rowe, a partner at Orchard Street, said, “The acquisition of this popular Travelodge asset in central Manchester enables us to benefit from exposure to inflation linked rental growth

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