News Source: www.thecaterer.com
German investor buys UKs largest aparthotel for £80m
News Source/Courtesy: www.thecaterer.com

Courtesy: Neil Gerrard | News Source: thecaterer.com

Ducie Street Warehouse in Manchester, reputed to be the UK’s largest aparthotel, has been sold to a German property investment firm for £80m.

Deka Immobilien has struck a deal with US private equity firm Ares Investment Management and local developer Capital & Centric for the 166-bedroom property.

The Grade two-listed redbrick Victorian warehouse near Piccadilly station was recently refurbished and expanded by Ares and Capital & Centric for a reported £25m, after they bought it from Goldman Sachs and Greystar for £25m in 2016.

The project involved restoring features like the building’s brick-vaulted ceilings and iron columns.

The property, still operated by Native, which is also owned by Ares Investment Management, features various F&B outlets, private meeting and dining rooms and an outdoor terrace, in addition to 158 one- and two-bedroom suites and eight penthouses.

 

Fill the numbers here
If not readable, please refresh.
Refresh

News Source: www.thecaterer.com

You Might Also Like

Fill the numbers here
If not readable, please refresh.
Refresh

-: Disclaimer :-


This article has been aggregated from www.thecaterer.com and they maybe/are the copyright owners of the same. If you are the Author/Copyright owner of this article and want us to remove the same then send an email to admin@hoteliers.news so that we can delete it immediately. We sincerely regret and apologies for any inconvenience caused to you due to the same. Though it is your decision but please take note that the link to your website and the article have been given above, within and on the bottom of the article.

Popular Posts

Hoteliers In Limelight

Voting Poll