Manchester’s Victoria & Albert hotel on the market
THE Victoria & Albert Marriott hotel in Manchester has been put on the market by administrators for around £20m.
Administrators at Zolfo Cooper have appointed Jones Lang LaSalle to sell the four-star 148-bedroom hotel, on behalf of owner Dania Properties which went into administration earlier in the year.
The site – next to the River Irwell on Water Street – is opposite ITV Granada’s headquarters which is being vacated ahead of a move to MediaCityUK.
Developer Gener8 has been linked to future plans for that site.
George Nicholas, vice president of Jones Lang LaSalle Hotels, said: “The hotel represents a rare opportunity to acquire an internationally branded upscale hotel with the benefit of a lease contract guaranteed by Marriott International, in one of the UK’s leading cities.
“Manchester appears resilient in comparison to other regional cities. It has an active and diverse base of national and international companies in both professional and financial services as well as world class sporting and cultural amenities.”
He added: “Due to the superior riverside location, we anticipate significant interest from hoteliers and property developers who will look to maximise the property’s potential.”
