Europa Capital, the general partner of Europa Fund III, has acquired One Piccadilly Gardens and the Pavilion in Manchester from a private Irish investor for £67 million (€78 million). The asset has been acquired in a joint venture with Paul Parkinson.

Developed in 2003, One Piccadilly Gardens is a modern office building consisting of 15,500 square metres of office space, with retail on the ground floor. The purchase also includes the Pavilion, a separate retail building providing 255 square metres. The property is fully let with tenants such as Bank of New York, Allianz Cornhill and Manchester City Council.