Orchard Street buys data centre
Law firm DLA Piper has advised Orchard Street Investment Management on the acquisition of Joule House, Trafford Park for £7.6m from Peel Land & Property Investments.
Joule House is a 48,082 sq ft data centre let to Telecity Group UK, with 13.5 years remaining on the lease and annual index-linked rental uplifts. Joule House is located near Media City UK in Trafford Wharf Road, west of Manchester city centre.
Catherine Usher, consultant in the real estate group at DLA, said: "We are delighted to have acted on this acquisition, which was completed in line with a tight timescale. This transaction is an example of the excellent work the firm's burgeoning data centre practice is undertaking."
DWF Liverpool acted for Peel Land & Property Investments. DLA's team was led by Catherine Usher with support from associate Sally Whitney and solicitor Rebecca Cowley.
