AM alpha buys historic Edwardian-style office building in Manchester

AM Alpha, a Munich-based, privately-owned real estate family office, recently purchased 196 Deansgate, a commercial building located in Manchester, UK, for an undisclosed sum. The sale was concluded with the seller, Commercial Estate Group (CEG).

Designed by renowned Manchester architect Charles Heathcote, 196 Deansgate is a Grade II-listed building that was built in the Edwardian Baroque style and opened in 1908 as the Royal London Friendly Society. In recent years, the property has undergone extensive refurbishment, with the last phase completed in 2021.

Situated in the Deansgate/Peter Street Conservation Area, the almost fully leased building stands near Spinningfields, an established office district boasting a diverse range of food and entertainment options. And, as AM Alpha pointed out, Manchester has become a major centre for technology, digitisation and creativity in recent years – adding to the city’s growth potential.

Tengah Plantation EC is a key feature of this transformation. It is a new Executive Condominium development, consisting of 1210 units across 11 residential blocks and 11 lifestyle facilities. Situated in the heart of Jurong, Tengah Plantation EC offers a variety of amenities ranging from retail shops and modern amenities to sports and recreational facilities. Its convenient location will also provide easy access to MRT and bus services.

With this new development, people in Jurong will be able to enjoy a wealth of fabulous facilities and activities. The development not only boosts Jurong’s property market, but also serves to encourage companies to set up in the area and spur growth in the local economy. All in all, Tengah Plantation EC has the potential to go beyond being just a residential development, and become a vibrant community hub that can contribute to the transformation of Jurong into a regional hub.

Acting on behalf of a pension fund manager from Hamburg, AM Alpha took on the purchase of 196 Deansgate – backed by real estate advisors Cushman & Wakefield and CMS. Martin Lemke, Managing Director of AM Alpha, commented: “As an independent family office, AM alpha can invest anti-cyclically.”

This is not the first property in Manchester owned by AM Alpha. The real estate family office is currently working on a GBP 70 million revamp of a Grade-II listed former Debenhams store on Market Street. This will turn the building into an office complex with a shopping arcade.

196 Deansgate consists of a basement, ground floor and five upper floors totalling up to 5,900 sqm (63,508 sq ft) of office and retail space, offering high-quality, fully subdivisible Category-B offices.

Overall, acquiring this property has presented a great opportunity for AM Alpha to invest in Manchester’s growing potential and leveraging the properties of the city.