Fragrance Group acquires Aloft Liverpool

Fragrance Group acquires Aloft Liverpool

Aloft Liverpool

UK: The Aloft Liverpool hotel has been sold by Colliers and CBRE on behalf of North John Street LLP to Fragrance Group, off a guide price of £12 million.

Located in the centre of Liverpool, the hotel was originally built around 1900 as the head office of the Royal Insurance Company. It had since been restored and converted into a four-star 116-bedroom hotel.

The property offers two bar and restaurants with several meeting spaces. It will continue to be operated by RBH Hospitality Management.

Martin Rogers, from Global Hotels & Leisure Consultancy and representing The Fragrance Group, said: “This was another strategic acquisition for The Fragrance Group in the UK. Mr Koh [founder of The Fragrance Group] 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.”

Julian Troup, head of hotels agency at Colliers, 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.”

Shaun Skidmore, senior director of operational real estate at CBRE, added: “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.”

Be in the know.

Subscribe to our newsletter »