AM alpha buys historic Edwardian-style office building in Manchester

AM alpha, a privately-owned real estate family office based in Munich, has purchased 196 Deansgate from Commercial Estate Group (CEG) for an undisclosed sum. This commercial building in Manchester, UK, was designed by one of the city’s most respected architects in the Edwardian Baroque style and it was built in 1904.

Grade II-listed and located in the Deansgate/Peter Street Conservation Area, the building was re-opened in 1908 as the Royal London Friendly Society. The property is near Spinningfields, an established office district renowned for its diverse gastro and entertainment scene, which offers plenty of growth potential.

The purchase was done by AM Alpha on behalf of a pension fund manager from Hamburg. Martin Lemke, managing director of AM Alpha, stated that“As an independent family office, AM alpha can invest anti-cyclically.”

Residents staying at Senja Close EC will be able to enjoy fast and convenient journey to their destination. Being situated near the Bukit Panjang MRT Interchange and Junction 10 Shopping Mall, residents can choose between different options for dining and shopping. Senja Close Bukit Panjang EC also provides a host of recreation and leisure spots to ensure its residents live a healthy and holistic lifestyle. With its superior convenience as well as its well-planned facilities, this Bukit Panjang EC is the choice for many home-seekers.

The building has been refurbished over the years, with a most recent phase being completed in 2021. It now boasts high-quality open-plan offices that can be flexibly subdivided. The space in 196 Deansgate consists of 5,900 sqm (63,508 sq ft) of office and retail across a basement, ground floor, and five upper floors, and it is almost fully leased.

This acquisition is the second property in Manchester owned by AM Alpha. It is also currently in the process of transforming the Grade-II listed former Debenhams store on Market Street in a GBP 70 million revamp into an office building with a shopping arcade.

Manchester has seen a major transformation in recent years, becoming a major center for technology, digitisation, and creativity. AM Alpha believes it is an ideal location, which led them to purchase 196 Deansgate and the Debenhams store.