Exclusive: Liverpool city centre’s Hilton Hotel – which includes 221 rooms and 47 residential apartments – is up for sale with a reported price tag of £60m in what is called ‘Project Beatle’. Tony McDonough reports
Owners of the Hilton Hotel in Liverpool city centre have put the property on the market and are reportedly seeking £60m.
JLL Hotels & Hospitality Group is representing the owner which is believed to be London-based investor Ability Group which bought the hotel from Grosvenor shortly after it was completed in 2009, also for £60m.
Located on the edge of the £1bn Liverpool ONE development, built by Grosvenor, the hotel occupies a prominent position on the strand and overlooks the Royal Albert Dock and waterfront.
Operated under the global Hilton brand, the complex comprises 221 hotel rooms as well as 47 residential apartments. Its function rooms are regularly used for major events in the city such as awards ceremonies.
JLL has called the sale process ‘Project Beatle’ and in the sales literature it says: “JLL Hotels & Hospitality Group, as the sole and exclusive advisor, is pleased to offer for sale the property.”
It adds this is “an opportunity to acquire a purpose-built, best in class Hilton-branded hotel located in the heart of Liverpool’s city centre, one of England’s largest football and cultural hubs”.
It also says: “Strategically positioned in Liverpool’s premier commercial and waterfront destination overlooking the iconic Royal Albert Dock, the property boasts exceptional connectivity, located just a one-minute walk from the Liverpool ONE bus station and a five-minute walk from James Street train station.”
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It adds that the event space at the venue totals more than 8,000 sq ft, designed for meetings, conferences, and exhibitions as well as leisure events and weddings.
According to the sale listing, the hotel provides existing in-place cash flow. The property has undergone “targeted enhancements” that have contributed to revenue growth.