Mon, 11 Aug 2014 | ADMINISTRATION
Administrators from Chantrey Vellacott have sold the Novotel Liverpool Central hotel out of administration to Brussels-based investor Algonquin.
The four-star 209-room hotel changed hands for a figure exceeding £13 million. It was previously owned by Pederson Group, which entered administration in 2013.
Chantrey Vellacott was drafted in to manage the running of Pederson (Liverpool) Ltd, Pederson (Bromsgrove) Ltd and Pederson (Ealing) Ltd in October 2013, after being appointed by the Irish Asset Management Agency. The companies had been struggling to handle its debts.
There had been plenty of interest in the hotel sale, which was conducted by real estate adviser Savills. Its director of hotels, leisure and trading Robert Stapleton told the Liverpool Echo: “We received significant buyer interest in this hotel due to its strong trading location in central Liverpool and its impressive operating performance."
He continued: “We are delighted to have secured such a strong price for our client, which significantly exceeds the original guide price of £12.3m, and further demonstrates the investment market’s growing interest in UK regional centres.”
Located on Hanover Street, the hotel is close to the Liverpool Lime Street Station and is within reach of the John Lennon Airport. The hotel caters for weddings, meetings and also has a fitness centre and indoor heated pool.
All three hotels have been sold on, Chantrey Vellacott confirmed.
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