A boutique hotel in the heart of Manchester city centre has changed hands for £12.5 million.
The Townhouse Hotel in Portland Street has been acquired from Harcourt Developments by Fragrance Group Limited.
Built in 1870, the Grade II listed property was originally a cotton warehouse and has been a hotel since 1982.
Martin Rogers, head of UK hotel transactions at Savills, commented: “We are very pleased to have acquired this well-established hotel on behalf of our client. The hotel investment market in the North is performing strongly with transactions totalling £304 million in the first half of this year alone.”
The newly acquired four star hotel will now join the stable of hotels operated by Bespoke Hotels.