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Aerium purchases 3 Hardman Street
Office design news from Morgan Lovell
Published on 19-04-2010
Investment management group Aerium has completed the purchase of 3 Hardman Street at the Spinningfields site in Manchester.
The firm secured £122.75million of debt finance from German bank Eurohypo to fund the deal, which will see Aerium take over the 393,000 sq ft modern office design building.
Completed in 2009, the property is presently 93 per cent let to companies including Marks & Spencer, law firm Pinsent Masons, Bank of New York Mellon and accountant BDO Stoy Hayward.
"It is thanks to Eurohypo's property finance expertise and its ability to underwrite large transactions that we are able to take advantage of such great opportunities," commented Franck Ruimy, chief executive officer at Aerium.
The firm has been setting up funds since 2003 and now operates 12 such projects. It targets properties which it feels will provide significant yields in terms of both asset value and tenancy rates over the foreseeable future.
Posted by Ian Johnson.
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