GVA brings Manchester Airport hotel to market with £2.5m guide price
Property agency GVA has been appointed as the sole agent for the sale of Etrop Grange Hotel, near Manchester Airport.
On behalf of Matthew Ingram and Steven Muncaster of Duff & Phelps, the joint administrators of Squire Hotels Limited, trading as Etrop Grange Hotel, GVA is bringing the operational and full-service three-star hotel to the market as a going concern business off a guide asking price of £2.5m.
The hotel comprises a Grade II-listed Georgian Country House originally built around 1780 by school teacher William Moss.
It is understood that the property was originally known as Moss House and then renamed Etrop Grange in 1984 by the owners at that time after a local area called Etrop Green.
It was around this time that the property was converted into an hotel.
Etrop Grange Hotel currently trades as a full service 3-star hotel with a good range of income streams and the property still retains much of its original Georgian character with its stately facade matched with many internal period features.
Given the hotel’s excellent trading location combined with the strong surrounding demographics, with areas such as Hale, Wilmslow and Alderley Edge close by, the hotel is popular with business and leisure guests alike.
The business currently provides complementary transfers to and from the airport and airport railway station as well as park, stay and fly packages.
Martin Davis, a director in GVA’s hotels team said: “This hotel is situated in an a prime trading location, benefiting from its airport location and its close proximity to the M56 motorway making it an attractive investment opportunity for an experienced operator looking to acquire a fully-trading commercial hotel asset with the opportunity to further develop trade.”
The hotel was put into administration earlier this month. It is understood that Duff and Phelps were called in as administrators on April 25.
Joint administrator Mr Ingram said on May 1: “Driven by a weakened Sterling, the growth in ‘staycations’ and improved infrastructure developments – not least in and around Manchester Airport – we believe that the future remains bright for Etrop Grange.”
