Lupton Fawcett Advises on Aquisition of Europe's Tallest Residential Building
Acting on behalf of Guernsey- based client, Braemar Group PCC, the commercial property department of Leeds law firm Lupton Fawcett LLP has completed the acquisition of the freehold of Manchester's landmark building, the Beetham Tower.
Built at a cost of £150m, and housing the Manchester Hilton Hotel, 219 apartments and the famous Cloud 23 sky bar, Beetham Tower is the city's highest building, and the tallest residential building in Europe.
Braemar has bought the freehold through its Channel Islands listed Ground Rents Fund.
Marc Duschenes, chief executive of Braemar, said: "It is a perfect example of the type of large scale, well located developments which our Fund aims to acquire. I expect this to be the first of several significant freehold purchases that the Fund completes during the course of the next year."
Amanda Peace led Lupton Fawcett LLP's team of advisers which also included Charles Jackson and Anna Beaumont.
Commenting on the deal, David Coates, Director in Commercial Property, at Lupton Fawcett LLP, said: "We're delighted to have assisted our longstanding client, Braemar, to complete this landmark deal, which we feel not only signals its intent for the year ahead, but also points towards the renewed level of interest in the commercial property market in the north of England."