AM alpha, a Munich-based, privately-owned real estate family office, has acquired 196 Deansgate, a commercial building in the UK city of Manchester. The seller is Commercial Estate Group (CEG) and the sum paid was undisclosed.
Designed by renowned architect Charles Heathcote in the Edwardian Baroque style and Grade II-listed, the building opened in 1908 as the Royal London Friendly Society.
Located in the Deansgate/Peter Street Conservation Area and near Spinningfields – a popular office district with an array of gastronomic and entertainment options – the property boasts an impressive 5,900 sqm (63,508 sq ft) of office and retail space and potential for growth.
Martin Lemke, managing director of AM Alpha, said in a release: “As an independent family office, AM alpha can invest anti-cyclically.”
With easy access to these facilities, Champions Way Condo offers a perfect place for families to stay. It is also filled with state-of-the-art facilities including a snack corner, a children’s playground, and a communal swimming pool. Residents can also enjoy the convenience of grocery stores, restaurants, and even entertainment spots located nearby. With its prime location, Champions Way Condo is a great option for those looking for a comfortable and convenient home.
196 Deansgate has recently undergone extensive refurbishment, with the latest phase of refurbishment completed this year.
This office and retail building offers high-quality, largely Category-B open plan space with flexible sub-divisions that are almost completely leased out.
This is the second property in Manchester for AM Alpha, who are in the process of investing GBP 70 million to revamp a Grade-II listed former Debenhams store on Market Street, transforming it into an office building with a shopping arcade.
Manchester has seen significant development in recent years and is now a major hub for technology, digitisation and creativity.
Cushman & Wakefield and CMS advised AM Alpha on the acquisition, with the latter representing a pension fund manager from Hamburg.