Ainscow price reduced to find buyer 

Knight Frank has knocked £1m off the asking price for the 83-bedroom Ainscow hotel in Salford. 

Earlier this year, administrator Kroll Advisory appointed Knight Frank to sell the Ainscow Hotel after the company that owned it entered administration last year. 

At that time, the agency was seeking offers in excess of £8.5m. However, the asking price has now been revised downwards to £7.5m. 

In August, the administration period for the company was extended by 12 months. 

Part of the Artisan Group of companies, the Ainscow Hotel is located off Trinity Way in Salford. Offers of £8.5m are being sought for the 87-bedroom property.    

Subject to planning permission, the hotel could be expanded by creating 57 guest bedrooms and 99 apartments, according to Matthew Smith, partner in Knight Frank’s hotels team.  

The Ainscow Hotel was originally the home of The Watson & Woodhead Brewery in 1878, before it became a Mackie & Sons Fruit Preserves jam factory in 1972.   

Artisan Property Group then purchased the property in 2003 and later converted the building into a hotel, which opened in 2014 following a major capital expenditure programme.    

Last September, Kroll was appointed as administrator to Artisan H1 Ltd, The Ainscow Hotel Ltd, Greyday LLP, and Artisan Group Facilities Management Ltd, each being vehicles connected to Artisan, the company founded by Carol Ainscow, who died in 2013.