KKR’s £8B Off-Centre Real Estate Play Now Takes In Manchester

Avoid the markets with the highest entrance fees, keep your eyes on the strong tier two cities with powerful dynamics: This post-pandemic recovery strategy has led KKR & Co. to add a 200K SF Manchester office development to its $8B-plus tally of real estate commitments so far in 2021.
The move into Manchester, a city heavily fancied by international money but operating at a significant discount to central London, matches similar moves in the U.S. KKR has landed on Atlanta and Miami but avoided the more pricey gateway markets.
KKR is backing the St Michael’s development in Manchester, fronted by  Jacksons Row Development Ltd, which in turn is led by former…

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