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Manchester's Victoria & Albert hotel up for sale

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The Victoria & Albert hotel in Manchester has been put up for sale, with a price tag of between £15 and £20 million placed on the iconic property by the administrators of Dania Properties Manchester.

This follows a troubled few years for the 148-room property, which is currently operated by global hospitality firm Marriott.

Based in a Grade II listed building that dates back to 1844, the four-star hotel has been fully converted with modern kitchen equipment and impressive rooms, making it one of the city's most popular hotels.

Offering an impressive location in the centre of Manchester, the Water Street hotel offers stunning views over the River Irwell and is adjacent to the city's upmarket Spinningfields district, which has enjoyed a great deal of investment from the hospitality and leisure sector in recent years and boasts a number of stylish restaurants and bars.

In addition to this, it is the UK's largest city centre mixed use development, offering over 236,000 sq m of office accommodation.

As the only Marriott-branded hotel in the centre of Manchester it enjoys a strong reputation among global travellers for its high levels of service, according to sales agent Jones Lang LaSalle.

Furthermore, the agent stressed the relatively robust health of the north-west city's hospitality market, a potential boon to any buyer given the parlous state of the industry across the UK as a whole.

The market has enjoyed constant growth since 2009, largely thanks to its reputation as a business centre, according to the property sales agent.

George Nicholas, executive vice president at Jones Lang LaSalle Hotels, said: "The hotel represents a rare opportunity to acquire an internationally-branded upscale hotel with the benefit of a least contract guaranteed by Marriott International."

"Due to the diverse and wide spectrum of business generators, Manchester is well posed to benefit from the economic recovery ahead of many other key regional cities."ADNFCR-16001031-ID-801465973-ADNFCR


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