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  • Kintyre, Exchange Quay, Paul Shiels

Manchester’s Exchange Quay sold in £51m deal

Exchange Quay in Manchester is understood to have been sold to an unnamed buyer in a £51 million deal.

European real estate management and investment firm Kintyre acted as an agent in what is said to be its first UK completion.

The company, which manages 110 assets in Germany worth €800m, launched its UK presence earlier this year with a London office.

A spokesperson for Kintyre has confirmed to Move Commercial that the office building in the transaction is Exchange Quay, and says the firm “acted in an agency capacity with a family office acquiring the asset with a view to adding value through the implementation of their business plan over the next few years”.

Following the deal Kintyre’s founding partner Paul Shiels (pictured), who is heading up the company’s London office, says: “This is a really exciting time for Kintyre and we’re delighted to be expanding into the UK market.

“Having developed so much knowledge and expertise, our team is primed and ready to put it to work in the UK and we currently have a solid pipeline of c£200m of transactions across all sectors, including retail, office and residential.

“It is a fantastic opportunity and we look forward to building a strong and successful working relationship with our partners and using our experience to grow and enhance the business within the UK.”