Administrators put regional hotels up for sale

THREE major hotels sites are likely to come to the market following the appointment of administrators.

Administrators PKF have appointed CBRE to manage the sale of the £1.25m Print Hotel in Liverpool, while Begbies Traynor has been appointed as administrators to the Waterside Hotel and Galleon Leisure Club in Didsbury, south Manchester.

Duff & Phelps has been appointed as administrators to Arinza Star Hotels, which owns The Mill Hotel at Croston, Lancashire.

CBRE has begun marketing the freehold of the 18,200 sq ft Print Hotel property to potential buyers, and said that the site in the Matthew Street area of Liverpool close to Cavern Walks and the upmarket Metquarter retail development could lend itself to other uses. It currently contains a nightclub, bar, restaurant, private members club and six hotel suites.  

Julian Such, associate director of Specialists Markets at CBRE, said: “The property has been fitted to a very high standard, offering a flexible building developed over nine floors. The building could be adapted from its historic leisure use or alternatively occupiers could capitalise on its unique location.”

Begbies Traynor’s Paul Lee, who is joint administrator of the Waterside Hotel and Galleon Leisure Club, said that the business is continuing to trade as a going concern, and that a number of expressions of interest have already been made in the business.

“We aim to sell it as a going concern,” he said. “We would like to thank both staff and customers for their support.”

Meanwhile, Duff & Phelps has appointed Legacy Hotels & Resorts to act as managing agents The Mill Hotel in Croston.

Joint administrator John Whitfield said it would carry out a comprehensive review of the sites before deciding on “the best outcome” for the businesses.

He added that they would continue to trade as a going concern for an interim period.