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Aloft Liverpool sells amidst competitive bidding

06 12 21 Aloft Liverpool sells amidst competitive bidding hero

North John Street LLP sells 116-bedroom Aloft Liverpool to Fragrance Group


The Aloft Liverpool hotel has been sold by joint agents Colliers and CBRE, on behalf of North John Street LLP, for an undisclosed price. 

Fragrance Group, which is further expanding into the hotel market, has acquired the hotel following an invitation for offers at a guide level in the region of £12,000,000.

Located in the heart of Liverpool city centre, this iconic hotel asset was constructed around 1900 as the head office of the Royal Insurance Company and was subsequently sympathetically restored and converted to the 4* globally branded 116-bedroom hotel. 

The modern hotel also offers two substantial and well-appointed bar and restaurants together with several meeting/conference suites. Trade to Year End 2019 showed a net turnover of £3,878,936 and operated under the Aloft franchise (part of Marriott Group). The hotel will continue to be operated by RBH Hospitality Management.

Julian Troup, Head of Hotels Agency at Colliers said: “Our instructions were to proceed in a confidential manner, and unsurprisingly significant interest was soon generated in this iconic hotel. The considerable level of interest follows a pattern of increasing demand for UK provincial hotels, particularly for global branded stock, and as a result a competitive bidding process was run amongst several overseas and domestic bidders. The sale of the Aloft adds to the high volume of our UK hotel sales that have been concluded during the year and demonstrates the increasing confidence from a diverse range of buyers.“

Martin Rogers of Global Hotels & Leisure Consultancy who represents The Fragrance Group commented: “This was another strategic acquisition for The Fragrance Group in the UK. Mr Koh first visited Liverpool in 2018 and subsequently purchased The Municipal Building from Liverpool City, which we are now converting into a luxury 186-bedroom Hotel due to open in October next year. We are delighted to again work alongside RBH Hospitality Management who already operate six hotels in the UK for the Group."

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Julian Troup

Head of UK Hotels - Agency

Hotels Agency

London - West End

I originally trained with a long established firm of Chartered Surveyors based in Manchester and have been working in the licensed, leisure and hotel property market since 1987. I joined Colliers in 2007 to head up our UK Corporate hotel operation. I was appointed Head of UK Hotel Agency during 2011.  Since the beginning of 2003 I have sold or acquired over 100 provincial hotels on behalf of clients of asking prices ranging from £1.2m to in excess of £20m.  In addition to the managerial responsibilities, I remain focused on handling larger private and corporate hotel transactions throughout the UK.

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Kim Inam

PR Manager

Marketing & Communications

London - West End

I'm a communications professional who has previously worked as a journalist for eight years covering a broad range of topics including politics, crime, health and housing in north London. In recent years I have worked in corporate communications for local authorities across London  and joined Colliers in October 2019, initially providing maternity leave cover.

I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, and work with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

As well as supporting various teams within the UK business, I also I curate and edit regular content for the Colliers.com blog, which drives credible business leads to our experts.

 

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