Administrators instruct Savills to sell luxury four star Southport hotel
The joint administrators of a Southport luxury boutique hotel have instructed Savills to bring the property to market.
The Southport Waterfront Hotel is the only four star hotel in Southport, and is being marketed on behalf of Paul Davies and Sandra Mundy of James Cowper Kreston, the administrators of Waterfront Hotels (Southport) Limited and Waterfront Southport Properties Limited, the beneficial owners of the hotel, known as Bliss Hotel.
The international real estate advisor is inviting offers for the hotel, held on a long leasehold with 235 years unexpired.
Day-to-day operations remain unaffected as the administrators are continuing to trade the business as a going concern.
The hotel has recently undergone a multimillion-pound refurbishment to provide 131 bedrooms, reception, lounge, bar and restaurant and function suites, as well as including a 120-space basement car park.
The sale also includes a circa 50,000 sq ft development opportunity adjacent to the hotel with potential for a variety of alternative uses – subject to the necessary consents. In total, the hotel and development site extends to two acres.
The hotel is located on Southport’s promenade with views of the Marine Lake and Southport’s coastline, next to Marine Lakes Events Centre.
The Marine Lake will benefit from a £75m investment as part of Sefton Council’s regeneration plan, which will deliver a first class theatre space, a conference and exhibition centre, café and signature restaurant and a water and light show installation located directly opposite the hotel.
Southport is a popular seaside town attracting millions of tourists from across the UK to its many attractions including the annual flower show, the Ocean Plaza Shopping Centre, Southport Pier, sandy beaches and the convenience of being within a 15-minute drive from five championship golf courses.
Tom Cunningham, director in the hotel capital markets team at Savills Manchester, said: “This is an exciting opportunity to acquire the long leasehold interest in this luxury hotel in a popular town centre location with waterfront views.
“The hotel has benefited from a multimillion-pound refurbishment and comes with outstanding asset management and development potential, subject to planning.
“It is also ideally situated to benefit from the substantial regeneration along the Marine Lake, which is expected to attract over half a million visitors to Southport each year.”
Paul Davies and Sandra Mundy were appointed as joint administrators on September 28, 2022.
The day before this, Waterfront Southport Properties had instructed the operational real estate team at CBRE in Manchester to market the property.
In June this year CBRE was appointed to advise on strategic options of the Bliss Hotel and an adjoining major development opportunity on the waterfront in Southport.
