The Singapore-based investor has followed up its acquisition of the Municipal Buildings in Liverpool city centre with the £12.8m purchase of Blackpool’s Imperial Hotel.
Built in the 19th century, the four-star Imperial on the North Promenade features conferencing facilities for up to 600 delegates, health club, restaurant and bar.
Savills represented vendor The Hotel Collection. The sale is the seventh from a 10-strong portfolio of regional UK hotels, known as Project Solstice, that the firm is marketing on the group’s behalf.
Martin Rogers, head of UK hotel transactions at Savills, said: “We are pleased to have secured a new owner for The Imperial Hotel. It is one of the town’s most recognisable buildings and steeped in heritage. The hotel’s prominent beachside position and four star status ensures it is popular with tourists and business bookings alike.”
The Fragrance Group has been listed on the Singapore Stock Exchange since 2005 and mostly delivers residential schemes in that country.