Top city centre hotel changes hands in off-market sale
A New York themed hotel, recently named one of the ‘hottest hotels in the world’, has been sold to a private party.
Marshall CDP, represented by Cushman & Wakefield’s hospitality team, has agreed the sale of Manchester’s Hotel Brooklyn, in an off-market process.
The 189-bed hotel is located in the heart of the city centre on Portland Street and opened in February 2020.
It is the latest design-led and lifestyle 4-star brand offering from Bespoke Hotels and was recently named in the top 20 ‘hottest new hotels’ in the world for 2021 at the Traveller’s Choice Best of the Best awards.
Oliver Heywood, associate director in Cushman & Wakefield’s hospitality team, said: “Despite the COVID pandemic, this sale demonstrates investor appetite for Manchester remains strong for quality city centre assets of this nature.
“Hotel Brooklyn is a unique hotel and concept that is positioned in the upscale lifestyle sector of the market which continues to grow and thrive in Manchester.”
Rob Seabrook, head of hotel transactions for EMEA at Cushman & Wakefield, said: “This is the third hotel sale Cushman & Wakefield have completed in Manchester in the last six months, coming fast on the heels of the acquisition of the freehold of the Park Inn Manchester for an institutional investor in December and the sale of La Reserve Apart Hotel in March.
“These transactions demonstrate the importance of this vibrant city to hotel investors.”
Thomas Greenall, chief executive of Bespoke Hotels, said: “The deal enables Bespoke and Marshall CDP to strengthen their commitment to developing more sites together with the opening of Hotel Brooklyn Leicester scheduled for early 2022.”
