AM alpha has acquired 196 Deansgate, in the heart of Manchester city centre, on behalf of a Hamburg-based pension fund manager from Commercial Estate Group for an undisclosed price.
The circa 5,900 sq m (63,500 sq ft) office building, which is located near Spinningfields, was recently extensively refurbished and is almost fully let.
The Grade II listed property was built in 1904 and was designed by one of Manchester’s most respected architects, Charles Heathcote, in the Edwardian Baroque style.
Martin Lemke, managing director of AM alpha, said: “As an independent family office, AM alpha can invest anti-cyclically. We are specialised in finding imbalances in the market and turning them into opportunities to achieve above-average returns for our investors, especially in a challenging market environment. This transaction shows again that AM alpha is an expert in executing complex investments. We will continue to grow our portfolio in the UK’s dynamic growth regions.”
AM alpha was advised by Cushman & Wakefield and CMS on the transaction.
