UK: Manchester-based HS Property Group has bought an aparthotel and restaurant asset on Liverpool’s Castle Street from RSL Property Management.
CBRE’s operational real estate team in Manchester oversaw the freehold disposal of the 16,748 square foot property, which provides an income of £293,000 per annum and is home to the Santa Maluco and Mowgli bar restaurants, with the upper floors let to Istay Liverpool, an expanding aparthotel operator with six schemes across the city centre.
The Grade II-listed building was extensively renovated and converted in 2016 and is situated in Liverpool’s commercial core, with adjacent operators including Gino D’Acampo, Rudy’s Pizza, Bacaro, Alchemist and Restaurant Bar & Grill.
Nick Huddleston, associate director within CBRE’s Manchester OPRE team, said: “We are delighted to have transacted this prominent mixed-use leisure investment in Liverpool city centre. The building offers a multi-let, long-term income stream in the heart of the city which continues to evolve as one of the Liverpool’s main premium bar restaurant and leisure locations. Investors across the north-west continue to look for well-located leisure investment opportunities with long term income profiles.”
David Searle, of HS Property Group, added: “We are excited to have acquired this landmark building in the heart of Liverpool city centre. We continue to focus on investment and asset management opportunities across a range of sectors within Manchester, Liverpool and the wider north-west. HS Property Group are acquisitive for more opportunities and are very much open for business.”
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