AM alpha, a global family office for real estate investments,  has acquired the 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”. 

AM alpha was advised by Cushman & Wakefield and CMS on this transaction.