Properties

voco Manchester - City Centre

57 & 59 Portland Street, Manchester M1 3HP

  • Guest Room

    189
    Guest Rooms

  • Land Area

    ~1,438 sq m
    Land Area

voco Manchester - City Centre is a 4-star upscale lifestyle hotel located at the heart of Manchester city centre offering 189 guest rooms. The hotel appeals to both corporate and leisure guests being within walking distance to the central business district (Spinningfields), as well as popular tourist attractions such as the Manchester Art Gallery, retail areas such as Market Street and Manchester Arndale, as well as entertainment hubs such as the Manchester Arena. It is within a two-minute walk to Oxford Road train station and eight-minute walk to the Manchester Piccadilly, Manchester's main train station, and approximately 13.4 kilometres (20-minute drive) from the Manchester Airport.

In 2023, the lessee for Hotel Brooklyn terminated existing arrangements with Bespoke Hotels which was managing the property and entered into an underlease with Kew Green. Kew Green has entered into a franchise agreement with IHG Hotels & Resorts to rebrand the hotel to voco Manchester - City Centre around mid-2024. The existing rental terms between H-REIT and the lessee remain the same.

NOTABLE ACCOLADES

  • • TripAdvisor Travellers' Choice Awards 2021 | Best of The Best | Top 1% of Hotels Worldwide
  • • Condé Nast Traveller Readers' Choice Awards 2021: Top 30 Best Hotels in UK
  • • Luxury Lifestyle Magazine Readers' Travel Awards (UK) | Best Hotel for Design (2020 & 2022) | Best City Hotel (2020 - 2022) | Best Hotel for Business (2022) | Best Hotel for Families (2022) | Best Hotel for Food (2022)
  • • itravel Staycation Awards 2020 - Hotel of the Year
  • • Catey's Accessibility Award (2021)

 

Property Details [  –  ]
Number of guest rooms 189
Number of F&B outlets Two outlets comprising Runyon's Bar & Restaurant and Salvation Bar
Banquet/Conference/Meeting facilities Three meeting rooms (which can be combined and accommodate up to 175 people theatre-style)
Other facilities Casino with restaurant and bar
Land area ~1,438 sq m
Title ~197-year leasehold interest commencing 7 May 2021 and expiring on 26 June 2218
Purchase price at 22 February 2022 £22.8 million (1)
Valuation (2) as at 31 December 2023 £25.0 million
Green Rating/Certification EPC "B" Rating
BREEAM "Very Good" Rating
Occupational Lease Details [  –  ]
Occupational Tenant HLD (Manchester) Limited
Term of lease 60 years commencing from 7 May 2021 (3)
Fixed Rent £2.5million (4)
FY 2023 Key Financials [  –  ]
Gross Hotel Revenue S$4.2 million(5)
(£2.5 million)
Net property income S$4.2 million(5)
(£2.5 million)
Average occupancy rate 85.4%
  • (1)The purchase price of £22.8 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)The Occupational Lease has a term commencing on 7 May 2021 and expiring on 6 May 2081 with a break option exercisable by the Occupational Tenant on 15 January 2045 and then on every fifth anniversary from that date, by providing at least six months' prior notice to CDLHT.
  • (4)Pursuant to the occupational lease, the fixed rent applicable for 7 May 2023 to 6 May 2024 is £2.5 million. The fixed rent is subject to an annual upward-only rent review broadly based on inflation.
  • (5)Based on the average exchange rate of £1.00 = S$1.6673.

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