UK: The recently opened Native Manchester on Ducie Street has been bought by Deka Immobilien for around £80 million.
The sale price represents a significant uplift for vendor Ares which purchased the 120,000 square foot block for £25 million in 2016. It also spent around £25 million on an extensive refurbishment by its operator arm Native and contractor Styles & Wood.
The grade two-listed property features 158 studio, one-bedroom and two-bedroom aparthotel suites and eight penthouses.
In addition to the apartments, the ground floor contains an all-day lounge, mini-cinema, coffee shop, restaurant, private meeting and dining rooms and outdoor terraces, operated by Bistrotheque through its Cultureplex arm.
