As part of Redwood Consulting’s communication role with M&G Real Estate, we recently announced the institutional investor’s acquisition of a £105 million office building in central Manchester. The acquisition was secured by a three party joint venture made on behalf of M&G Real Estate’s Capital Solutions business headed by Martin Towns.
The purchase of 101 Embankment, which is located in the heart of the Cathedral District in central Manchester, has been made in partnership with an Asian investor and West Yorkshire Pension Fund, one of the UK’s largest pension funds.
With a total of 165,000 sq ft, 101 Embankment is the new head office of insurance firm Swinton, which has signed a 10-year lease; the high specification premises include a 442-space car park, let to Q-Park on a separate 35-year term. The leases include guaranteed rental increases.
Martin Towns, Head of Capital Solutions at M&G Real Estate, said: “There is an increasing trend in Global real estate for large institutional and sovereign wealth investors to partner with established fund management companies through joint ventures and separate accounts. We believe in investing time to truly understand our clients’ unique preferences and requirements, using our skills and experience to create bespoke strategies and investment opportunities that work for them.”
For this announcement, Redwood targeted a specific range of top tier media outlets including investment and pensions, pan-European and property trade media as well as regional and local publications, securing coverage in publications such as, Professional Pensions, IPE Real Estate, Property EU, Property Week, Place North West and Manchester Evening News.