As the Royal Insurance Company headquarters, the building was constructed around 1900. An iconic hotel in Liverpool’s city centre, which commanded a guide price of £12 million, sold for a record price.
On behalf of Colliers and CBRE, North John Street LLP has sold the Aloft Liverpool hotel to The Fragrance Group for an unknown price.
Colliers and CBRE are investment management and advisory companies that provide excellent services to clients. If we talk a little about both:
Colliers provides a wide range of consulting services and is a giant investment management company. They team up to offer expert guidance to real estate tenants, owners and buyers.
CBRE offers various services such as building, contract, and project management. Other than that, they help in property and investment management, asset appraisals, leasing and development services, and financing and mortgages services.
Around 1900, the Royal Insurance Company constructed the building as its headquarters. Afterwards, the building was renovated and converted into a four-star hotel with 116 rooms.
Two restaurants and two bars are available at the hotel and conference facilities; RBH Hospitality Management continues to manage it.
Julian Troup, hotel agency leader at Collier’s, stated: “We were informed that the process should discreetly take place, and the iconic property immediately generated considerable interest.
As a result of the high level of interest, several overseas and domestic bidders engaged in a competitive bidding process. There has been an increase in demand for UK local hotels, especially for branded stock.
“The Aloft transaction is the latest in a series of hotel sales that we have completed in the UK this year, and demonstrates the growing confidence of buyers from many different sectors.”
“This was a strategic acquisition for The Fragrance Group in the UK,” said Martin Rogers of Global Hotels & Leisure Consultancy.
Following a visit to Liverpool from Mr Koh in 2018, the company purchased The Municipal Building from Liverpool City. This building will be converted into a luxury 186-room hotel opening in October 2022.
RBH Hospitality Management currently operates six hotels for the group in the UK. We are delighted to work with them again.”
Shaun Skidmore, the main head of operational real estate at CBRE, added: “On behalf of North John Street LLP, we conducted a robust process utilizing our UK and overseas platforms.
In addition to adding to Fragrance Group’s growing portfolio, acquiring this prestigious property demonstrates Liverpool’s continued appeal as a hub of hospitality.