Offers of £7.5m sought for Manchester Holiday Inn
Knight Frank has been instructed to sell both the freehold and the long-leasehold of the 83-bedroom hotel at Central Park.
Holiday Inn Central Park’s leasehold has another 147 years to run and is held by a private individual investor. Offers of £4.25m are being sought for the leasehold of the Manchester property.
Aviva holds the freehold. Together, the two titles are being offered to would-be investors for £7.5m.
The Holiday Inn features a restaurant and bar area, six conference rooms, and has planning consent for a 28-bedroom expansion.
The property is located close to Manchester City’s Etihad Stadium and the under-construction Co-op Live Arena, a 23,500-capacity venue being developed by Oak View Group and City Football Group.
Ryan Lynn, partner in Knight Frank’s hotel agency team, said: “This sale provides a unique opportunity for an investor to acquire the closest branded hotel to Manchester’s sports hotspot, and to take advantage of the approved planning permission for an additional three-storey extension.
“As the third most popular UK destination, after London and Edinburgh by number of overnight stays, Manchester’s hotel market is set to return to pre-pandemic trading levels as demand continues to rise throughout the year.”