Deka Immobilien has bought One St Peter’s Square in Manchester for £164m.
The fund bought the 288,000 sq ft office and retail space from a joint venture between Argent and the Greater Manchester Property Venture Fund.
The building has a weighted average rent of about 16 years, with tenants including KPMG, DLA Piper, Addleshaw Goddard and Mazars
Deka was advised by Savills and CBRE, while Bilfinger GVA represented the joint venture.
John Heaver, investment director at Savills, said: “The characteristics of One St Peter’s Square make it a rare and prestigious product that will complement our portfolio and we are encouraged by their continued commitment to the UK.”
• From July: One St Peter’s Square adds up for Mazars
• From May: Addleshaw Goddard signs for One St Peter’s Square
• From December 2014: DLA confirms One St Peter’s Square deal
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