Nabarro acts on £164m sale of One St Peter’s Square in Manchester

This article was produced by Nabarro LLP, which joined CMS on 1 May 2017.

Nabarro has acted for developers Argent and The Greater Manchester Property Venture Fund on the £164m sale of One St Peter’s Square, one of Manchester’s most prestigious office and retail spaces and home to KPMG, DLA Piper and Addleshaw Goddard.

The 288,000 sq. ft. development was completed in September 2014 and has been bought by Deka Immobilien, the German, global real estate investors.

The deal was led by Howard Gill, Corporate partner in the Manchester office of Nabarro, supported by managing associate Louise Jones and associates Nick Wardle and Andreas Elofs.

Commenting on the transaction, Howard Gill said:
“The vibrancy and quality of the Manchester market rivals London. That is why we opened an office here and why we are already seen as a go to firm when it comes to advising on the most prestigious transactions, like the sale of One St Peter’s Square.”

David Partridge, managing partner of Argent, added:
“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 Manchester office at Nabarro continues to act on many of the biggest real estate, corporate and infrastructure transactions in the region advising on deals worth over £1bn in its first full year since opening.