Italian investor Nextra Immobilia has acquired 201 Deansgate in Manchester from BP Pension Fund for around £24m.
The deal is Nextra’s first in the UK outside London. Nextra is a client of Henderson Global Investors.
The 82,000 sq ft (7,620 sq m) office building is occupied by Deloitte & Touche, TD Waterhouse and DLA. The sale price of £23.85m represents a yield of 6.6% for BP.
Andrew Hawkins, director of Jones Lang LaSalle, who advised Henderson on the deal, said: “This deal is yet another example of international capital recognising Manchester as a city of European importance, not least because this fund has only previously bought in the City of London and Paris.
“There is no question we will see more deals like this.
“Nextra are in the midst of a big drive to invest in Europe for private retail investors.”
The building lies opposite Allied London Properties’ Spinningfields development.
References: EGi News 13/02/2003
