APAM alongside South African private client, NPV International, has completed the purchase of 60 Spring Gardens, Manchester from Aviva for £7.8m.
The 26,000 sq ft grade 2-listed building was designed by Alfred Waterhouse, architect of Manchester Town Hall. The building is let to insurance company Ageas UK with five years remaining on its lease.
Chris Taylor, director of APAM, said: “In the past 12 months we have successfully invested over £600m into UK investment opportunities on behalf of our joint venture partners.”
Will Kennon, director of CBRE, handled the sale for Aviva Investors. He added: “60 Spring Gardens was a highly prestigious investment sale mandate. High quality assets of this nature are hard to come by and as such we attracted overwhelming interest from a range of buyers including UK institutions, property companies and high net worth investors.”