UK: The New York-themed hotel, Hotel Brooklyn in Manchester, has been sold to a private party in an off-market process.
The 189-bed hotel is located on Portland Street. It opened in February 2020 and was managed by Bespoke Hotels. The property has been sold by Marshall CDP and represented by real estate firm Cushman & Wakefield.
Oliver Heywood, associate director in Cushman & Wakefield’s hospitality team, said: “Despite the Covid pandemic, this sale demonstrates investor appetite for Manchester remains strong for quality city centre assets of this nature. Hotel Brooklyn is a unique hotel and concept that is positioned in the upscale lifestyle sector of the market which continues to grow and thrive in Manchester.”
Rob Seabrook, head of hotel transactions for EMEA at Cushman & Wakefield, added: “This is the third hotel sale Cushman & Wakefield have completed in Manchester in the last six months, coming fast on the heels of the acquisition of the freehold of the Park Inn Manchester for an institutional investor in December and the sale of La Reserve Apart Hotel in March. These transactions demonstrate the importance of this vibrant city to hotel investors.”
Thomas Greenall, CEO of Bespoke, said: “The deal enables Bespoke and Marshall CDP to strengthen their commitment to developing more sites together with the opening of Hotel Brooklyn Leicester scheduled for early 2022.”
Last summer, Bespoke announced it will open a second Hotel Brooklyn property in Leicester in 2022. It is set to feature 191 bedrooms and will designed by Squid Inc – the company behind Hotel Gotham and Hotel Brooklyn, Manchester.
