Deka Immobilien has acquired One St Peter's Square in Manchester for £164 mln (€190 mln).
The class A office building was bought from joint owners the Greater Manchester Property Venture Fund and UK real estate developer and centre manager Argent for Deka's open-ended WestInvest InterSelect fund.
Completed in September 2014, One St Peter's Square comprises 26,000 m2 of leasable space over 14 storeys and 65 underground parking spaces. The main occupant is the accounting and consulting firm KPMG. The property is certified BREEAM 'excellent'.
Representing the firm's first acquisition since the Brexit referendum, Deka said that the current market situation had been taken into account in the price of the property.
