Hotels

Aloft Liverpool sold to Fragrance Group

It acquired the hotel following an invitation for offers at a guide level in the region of £12,000,000

The Aloft Liverpool hotel has been sold for an undisclosed price to Fragrance Group, as it looks to further expand into the hotel market.

It acquired the hotel following an invitation for offers at a guide level in the region of £12,000,000.

Located within Liverpool’s city centre, this hotel asset was constructed around 1900 as the head office of the Royal Insurance Company and was subsequently restored and converted to the four-star, globally branded 116-bedroom hotel.

The modern hotel features two “substantial and well-appointed” bars and restaurants, as well as several meeting and conference suites. 

The hotel welcomed a net turnover of £3,878,936 in FY19, and operated under the Aloft franchise, which is part of Marriott Group. The site will continue to be operated by RBH Hospitality Management.

Julian Troup, head of Hotels Agency at Colliers, who acted as joint agents alongside CBRE, said: “Our instructions were to proceed in a confidential manner, and unsurprisingly significant interest was soon generated in this iconic hotel. 

“The considerable level of interest follows a pattern of increasing demand for UK provincial hotels, particularly for global branded stock, and as a result a competitive bidding process was run amongst several overseas and domestic bidders. The sale of the Aloft adds to the high volume of our UK hotel sales that have been concluded during the year and demonstrates the increasing confidence from a diverse range of buyers.”

Martin Rogers of Global Hotels and Leisure Consultancy, who represents The Fragrance Group, added: “This was another strategic acquisition for The Fragrance Group in the UK. Mr Koh first visited Liverpool in 2018 and subsequently purchased The Municipal Building from Liverpool City, which we are now converting into a luxury 186-bedroom Hotel due to open in October next year. We are delighted to again work alongside RBH Hospitality Management who already operate six hotels in the UK for the Group.”

Shaun Skidmore, senior director of Operational Real Estate at CBRE, concluded: “We undertook a robust process utilising our UK and overseas platform to conclude the sale on behalf of North John Street LLP. The acquisition of this prestigious asset by Fragrance Group demonstrates the continued appeal of Liverpool’s vibrant hospitality scene and will further enhance their growing portfolio.

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