Real estate investor AM Alpha has added a 5,900sqm office and retail asset in Manchester to its UK portfolio.

AM Alpha, acting on behalf of a pension fund manager from Hamburg, acquired 196 Deansgate from Commercial Estate Group for an undisclosed sum.

Built in 1904, the Grade II listed property is located in the Deansgate/Peter Street Conservation Area. The last phase of the building’s refurbishment works was completed in 2021.

Martin Lemke, managing director at AM Alpha, said: “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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