87-bedroom Select-Service Manchester Hotel For Sale, With Scope For Growth
Location: Salford, Manchester, England, UK
Name: The Ainscow Hotel
Guide Price: £8.5m
Guide Price per Key: Just shy of £100k
No. of Keys: 87…scope to add 57 more rooms and 99 apartments
The Opportunity:
The freehold hotel, whose owners went into administration in Septemeber 2021, is situated within one mile of Central Manchester and within a five-minute walk from Spinningfields and Manchester’s financial district to the north west of the city centre. The Manchester Arena, Old Trafford Football stadium and The Etihad football stadium are also in close proximity.
The property was originally the home of The Watson & Woodhead Brewery in 1878, before it became a Mackie & Sons Fruit Preserves jam factory in 1972. The Artisan Property Group then purchased the property in 2003 and later converted the building into a hotel, which opened in 2014 following a major capital expenditure programme.
The Ainscow Hotel comprises 87 ensuite guest bedrooms with an array of room configurations ….double rooms that measure approximately from 29 sqm to executive doubles & suites that are arranged over two floors and measure up to 53 sqm.
This select service, room-led hotel operates with a structured management team and attracts both private leisure and corporate markets. As recently as 2021 the third floor was reconfigured, converting several meeting rooms and food & beverage areas into well-proportioned guest accommodation, increasing the room count from 73 to 87. The ground and lower ground floors of the property benefit from public areas whilst externally there is a barrier-controlled car park for 36 vehicles.
Matthew Smith, from Knight Frank, appointed agent comments: “We are delighted to be acting on behalf of the Joint Administrators and given the lack of hotels available for sale in the current market we expect The Ainscow Hotel will be well received from an array of buyer profiles. The hotel benefits from several value-add opportunities to include the potential to create an additional 57 guest bedrooms and 99 residential apartments, subject to planning permission – at positive pre-app stage.
“The North West of England recorded over £300m of hotel transactions in 2021 and was ranked as the third most liquid region in the UK (excluding London) with Manchester accounted for 73% of this regional activity, highlighting the attractiveness of the region for hotel investment.”
Flag & Management: Free to new owner
Current Owner: In administration
Main Photo: The hotel as is
Financials: Available upon EOI
Tenure: Freehold
Agent: National agent appointed by the administrators….so THPT would need to be retained by the buyer
Date Posted: March 2022
THPT Comment: Remarkable opportunity to acquire a decent-sized hotel, in a not-bad part of Manchester, with great growth opportunity…worthy of a second look
Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each week we mail the opportunities posted in that period, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all.
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MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.
