One St Peter's Square bought for £164m

Tue, 16 Aug 2016 | COMMERCIAL PROPERTY

One St Peter's Square, the landmark office building home to tenants including KPMG and Mazars in central Manchester, now has a new owner.

Deka Immobilien purchased the newly built property for £164 million from Argent and The Greater Manchester Property Venture Fund. Sitting opposite Manchester Central Library in the centre of Manchester's business district, the office development was finished just two years ago, in September 2014.

Tenants to the 13 floor-property include DLA Piper, Addleshaw Goddard, and restaurants Drake & Morgan and Fumo in the retail units on the ground floor.

Greater Manchester Pension Fund purchased the old Elizabeth House in 2003, before its joint venture with Argent in 2008, Councillor Kieran Quinn, chair of GMPF said. The sale “brings to a conclusion the involvement of the Greater Manchester Pension Fund in the redevelopment of the site”.

"This building which, when commenced, was the only new construction in the city centre, has acted as a catalyst for the development of St Petersfield with the new tram site and significant improvement to the public realm”, he added.

David Partridge, on behalf of Argent and Hermes/BTPS, also commented on the building and the boost One St Peter's Square has brought to the area: “The design and quality of this office building and the Manchester City Council supported public realm around it, along with the significant works to the Town Hall Extension and the Library, have been a vital ingredient in re-establishing St Peter’s Square as the pre-eminent civic space in Manchester, and that is why we have attracted such an impressive line-up of occupiers.

"The public facing ground floor along with the Fumo and Drake and Morgan restaurants have already made One St Peter’s Square a destination in its own right.”

Buy a commercial property


Share this article



Latest Businesses for Sale

Childrens Day Nursery
Leicestershire, UK Wide

Nursery and out of school club. Ran under management. Registered for 175 places. Established in 1993. This is a retirement sale. Offers invited.

Asking Price: £325,000
Turnover: £766,934

Industrial Parts Distribution
UK Wide

This business has established a strong brand within its market place in over 20 years of trading. The owners have built a strong team to operate the business on a day to day basis. Offers invited.

Asking Price: Offers Invited
Turnover: £5,000,000

LEASEHOLD


Tagging Services to Library Sector
UK Wide

If you are looking for an uncomplicated yet profitable business, this is it. Using RFID and BLE technology our client works across a number of sectors to electronically tag assets for ease of monitoring. Put simply, the business is one link in a chai...

Asking Price: £395,000
Turnover: £450,000

WORK FROM HOME



View more businesses for sale

News Search

Latest News

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

 
12
 
Nov
 

MBO at Gloucestershire bricklayers | MBO/MBI

Gloucestershire building services firm Cavendish Park Brickl...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

 
27
 
Sep
 

Administrators called in for Northern polythene manufacturing firm | ADMINISTRATION

Total Polyfilm, a manufacturer headquartered in Preston, has...

 
24
 
Sep
 

Thomas Tucker popcorn company falls into administration | ADMINISTRATION

Thomas Tucker Limited, an independent popcorn manufacturer t...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources