Boutique hotel Velvet sold

Inside Velvet

The boutique hotel and bar Velvet in Manchester’s Gay Village has been sold from an asking price of £4.7m by Sue Cain, the wife of the late co-owner Mark Cain.

The Canal Street bar and restaurant was the facility into which Mark Cain ploughed £3.5m before he was found dead at The Gardens Hotel in Piccadilly in January, 2015.

Cain and his Velvet creation have been credited with helping to give the Village national notoriety. Sue Cain has been running the facility since her husband’s untimely death.

Agents at Christie + Co which marketed Velvet, saying it had turnover of £1.9m in the year to April 2016, with profits for more than £400,000.

Velvet features 19 individually-themed rooms and suites starting from £95 a night, and also offers quirky add-ons including a “bath butler”, who will run guests a bubble bath filled with floating rose candle lights.

Ryan Lynn, associate director at Christie & Co who handled the sale said: “We were very happy to have the opportunity to work with Sue Cain and her dedicated team.

“Through our many contacts and the strength of the market we were able to generate strong levels of interest in the hotel and ended up with a deal to a local, multiple operator who we have worked with previously.

“We wish Sue the best of luck with her next venture and the buyer every success with the hotel.”

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