Starwood, Property Alliance JV purchases Manchester, UK, site for £200M project

A partnership between Starwood Capital and Property Alliance Group bought the Renaissance Manchester site at Deansgate, U.K., for an undisclosed amount.

Urban & Civic PLC sold the property, which includes a 206-bedroom hotel, car park and office building.

The new owners aim to redevelop the site into a £200 million mixed-used project that will include a new hotel, office space, car park and residential units, with a view to cut waste and emissions during construction.

CBRE acted for Starwood and Alliance on the deal, while JLL and Savills were advisers to Urban & Civic.

Shoosmiths and law firm Paul Hastings were legal advisers to Alliance and Starwood, respectively.