The Novotel Liverpool Centre has been sold to Brussels-based investor Algonquin by business services provider Chantrey Vellacott for around $22 million. Administrators from Chantrey Vellacott took over running the hotel from former owner the Pedersen Group last October after appointment by the Irish asset management agency, NAMA, reports the Liverpool Echo.
The Novotel Liverpool Central, close to the Liverpool One retail centre, has 209 rooms and is currently leased to Accor, under the Novotel brand, until 2024.
Last year it generated an investor return of more than £1.04 million.
Savills handled the sale and Robert Stapleton, their director of hotel, leisure and trading, said: “We received significant buyer interest in this hotel due to its strong trading location in central Liverpool and its impressive operating performance.
“We are delighted to have secured such a strong price for our client, which significantly exceeds the original guide price of £12.3 million, and further demonstrates the investment markets’ growing interest in UK regional centres.”