AM Alpha acquires office property in Manchester

AM Alpha acquires office property in Manchester

Munich-based privately owned real estate family office AM Alpha has acquired an office property, 196 Deansgate, in the heart of Manchester.

The property is located near Spinningfields, a lively and established office district with a diverse gastro and entertainment scene.

AM Alpha acted on behalf of pension fund manager from Hamburg. The seller is Commercial Estate Group (CEG). The parties agreed not to disclose the purchase price.

The property which is almost fully let comprises a usable floor space of approximately 5,900 sqm, spread over a basement, ground and five upper floors. The building has been extensively refurbished in recent years. The last phase of the building’s refurbishment works was completed in 2021. Today, the building offers high-quality open-plan mostly Cat-B offices that can be flexibly subdivided. 

Built in 1904, the property was designed by one of Manchester’s most respected architects, Charles Heathcote, in the Edwardian Baroque style. The property is Grade II listed and located in the Deansgate/Peter Street Conservation Area. In recent years, Manchester has seen significant development and become a major centre for technology, digitisation and creativity. The population of the Manchester metropolitan region, which already has seven million people living within an hour’s drive, will continue to benefit from this innovation and is set to grow further.

“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,” says Martin Lemke, Managing Director AM Alpha.

“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”.

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