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RealVantage has completed the off-market acquisition of the Heathcote Hotel in Manchester for £14m, marking the second collaboration between the investment platform and London-based asset manager Oberland.
The new ownership structure grants RealVantage a majority 85% equity interest in the property. Oberland will hold the remaining 15% stake in the Grade II-listed heritage hospitality asset, formerly known as ABode Manchester.
Located at 107 Piccadilly, the building was designed in 1899 by architect Charles Henry Heathcote. Originally a packing warehouse for the 19th Century cotton industry, the property currently operates as a 61-room hotel.
The owners plan to increase the room count of the 50,000 square foot building to 78 keys following a refurbishment programme.
A soft launch is scheduled for October 2026, followed by an asset management period of 12 to 18 months. RealVantage projected a 16% net internal rate of return for investors over a three-year period.
Hotel specialist C1 Capital has been appointed to operate the site upon its reopening. C1 Capital currently manages seven hotels across the UK with a total capital value exceeding £500m.
Keith Ong, co-founder and chief executive of RealVantage, said: “A core pillar of this opportunity is significant sponsor capital commitment by Oberland and co-investment together with RealVantage; demonstrating a shared investment philosophy centered on value-add strategies, disciplined asset management, and long-term capital growth.
“RealVantage’s heritage-centric value creation and repositioning strategy for The Heathcote Hotel combines thoughtful preservation of historical architectural elements paired with modern amenities and facilities in order to capture premium demand from leisure and business travelers.”
