Administrators appoint property agents to find buyer for a 131-bedroom four-star Liverpool city region hotel that collapsed into administration a year ago with debts of £18.2m. Tony McDonough reports
Administrator of the former Bliss Hotel on Southport waterfront have appointed agents to find a buyer for the 131-bedroom property which includes a 50,000 sq ft development site.
Now called the Waterfront Southport Hotel, its owner collapsed into administration in October 2022. Waterfront Southport Properties Ltd owed £18.2m to its creditors when it entered administration.
Paul Davies and Sandra Mundy of James Cowper Kreston were appointed as administrators.
Now they are seeking a buyer for the hotel which is located next to the site of the £73m Southport Marine Lake and Event Centre on which work has started. They have appointed agents at Savills and Christie & Co.
Southport Waterfront Hotel has recently undergone a £20m refurbishment. It now offers 131 bedrooms, a reception, lounge, bar and restaurant and function suites, as well as including a 120-space basement car park.
The sale also includes a fully built 50,000 sq ft development opportunity adjacent to the hotel with potential for a variety of alternative uses – subject to the necessary consents. In total, the hotel and development site extends to two acres.
As Bliss Hotel, it was owned and operated by Bliss Investment Partners (BIP). The business was founded by Robert Agsteribbe and Daniel Broch.
It acquired the development from Wyndham in 2006 when the scheme was 60% built. It opened the hotel under the Ramada name, a Wyndham brand. In 2016 BIP decided to rebrand the hotel as Bliss.
David Lee, regional director in Christie & Co’s North and Midlands Hotels team, said, “With its waterfront views and ideal position near Southport’s many local attractions, the sale of the Southport Waterfront Hotel presents a prime opportunity.
“The regeneration of the Marine Lake area is expected to attract more than 500,000 visitors to Southport each year and Royal Birkdale playing host to the Open in 2026 is expected to bring over 250,000 visitors to the area.
“So there is significant scope for a new owner to grow the business and increase turnover in the next few years.”
Offers are invited for the hotel on a long leasehold basis, with 235 years left on the lease. The day-to-day operations remain unaffected as the administrators are continuing to trade the business as a going concern.
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Tom Cunningham, director in the hotel capital markets team at Savills Manchester, added: “This is an exciting opportunity to acquire the long leasehold interest in a luxury seaside hotel.
“The property has benefited from a multimillion-pound refurbishment and comes with outstanding asset management and development potential, subject to planning.”