Properties
The Lowry Hotel
50 Dearmans Place, Salford, Manchester M3 5LH
-
165
Guest Rooms -
~2,200 sq m
Land Area
The Lowry Hotel is an iconic 5-star luxury hotel which offers 165 rooms and a comprehensive suite of facilities and is located in proximity to the heart of Manchester city centre. It is also within close vicinity of top office developments such as Spinningfields and prominent retail establishments such as the Arndale Shopping Centre (one of the busiest retail malls in the UK). Key entertainment hubs such as the Royal Theatre Exchange, Manchester Opera House and Manchester Arena are all within close walking range of the hotel.
The Lowry Hotel is also well-known throughout the United Kingdom and since its opening in 2001, the hotel has hosted many notable celebrities, prominent foreign dignitaries, sports stars as well as prestigious football teams.
In keeping up with efforts to enhance The Lowry Hotel's position as one of the top hotels in Manchester, the hotel has undergone a significant amount of renovation works between 2018 and 2022 including refurbishment of the hotel lobby, a full refurbishment of the River Restaurant and the Lowry Lounge and Bar. The Spa (known as RE:TREAT) was also completely refurbished alongside an extensive refurbishment of all 165 bedrooms and suites within the hotel.
The River Restaurant is a fine dining restaurant specialising in the very best of British cuisine and has received the prestigious two-AA-Rosette award for the fourth consecutive year.
Property Details [ – ]
Number of Guest Rooms | 165 |
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Number of F&B Outlets | Two outlets comprising The River Restaurant and Lowry Lounge and Bar |
Banquet/Conference/Meeting facilities | Eight purpose-built meeting rooms for private events or business conferences and a grand ballroom for up to 300 people |
Other facilities | A spa comprising a gym, eight treatment rooms and a hair salon |
Car park facilities | 88 car park lots |
Land area | ~2,200 sq m |
Title | 150-year leasehold interest commencing 18 March 1997 |
Purchase price at 4 May 2017 | £52.5 million (1) |
Valuation (2) as at 31 December 2023 | £46.0 million |
Green Rating/Certification | EPC "B" Rating |
Vacant Possession | Owner-operated, free of operator or brand |
FY 2022 Key Financials [ – ]
Gross Hotel Revenue | S$20.8 million (£12.2 million)(3) |
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Net property income | S$4.1 million (£2.4 million)(3) |
Average occupancy rate | 68.9% |
- (1)The purchase price of £52.5 million refers to the price of the property and excludes the adjustment for net working capital
- (2)The property was valued by Colliers International Consultancy & Valuation (Singapore) Pte Ltd using the Discounted Cash Flow approach.
- (3)Based on the average exchange rate of £1.00 = S$1.7086.
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