CBRE LAUNCHES ICONIC HOTEL TO MARKET
‘The Grand Party Hotel’ Hits The Market in Liverpool
The iconic Shankly Hotel in the heart of Liverpool City Centre has been launched to market by CBRE on behalf of Administrators, Kroll, representing a unique opportunity to acquire the hotel featured in the BBC documentary The Grand Party Hotel.
The 125 bedroom Shankly Hotel is a large prominent standalone seven storey hotel situated on an island site fronting Victoria Street, Whitechapel and Crosshall. Following its phased opening between 2015 to 2019, the hotel has surpassed trading expectations by capitalising on group booking packages, a distinct USP in the marketplace and has consistently beaten Liverpool’s average hotel performance KPI’s over the last three years. Its capacity to accommodate groups led to its profile on the hit BBC documentary which won the hotel national acclaim and a huge social media following.
The property is a lifestyle branded and football themed hotel comprising 57 hotel bedrooms and 68 apartment style bedrooms with kitchen facilities, sleeping approximately 662 guests in total. It has a secure 111 space underground car park and a fully fitted gym which is leased by Liverpool City Council under its Lifestyles brand. There is further development potential to convert the two penthouse apartments into bedrooms and construct a rooftop pool.
In addition to room revenues, the Shankly Hotel generates particularly strong food and beverage revenues through the Bastion Bar and Restaurant, and two meeting / function and events venues that can accommodate up to 500 seated delegates or over 1,000 standing guests and have wedding and civil ceremony licenses. The rooftop bar, known as the Garden of Eden, also generates substantial appeal offering exceptional skyline views across the city.
The hotel is situated close to Liverpool’s main retail core with Liverpool ONE just 5 minutes’ walk away and Liverpool Lime Street Station just 350 metres away. Adjacent occupiers include Hilton Double Tree Hotel, Queen Square Leisure scheme and a large multi storey car park (Q Park).
CBRE is handling the sale of the iconic hotel on behalf of joint Administrators Matthew Ingram and Michael Lennon of Kroll (formerly Duff & Phelps Ltd.), who were appointed on 9th April 2020.
Mr Lennon adds, “The Signature Shankly hotel is a quality venue, in an excellent location. Pre-pandemic, it would see around 700 people check in on a Friday night for a weekend experience and its unique offering to larger groups makes it a popular selection. During the last 12 months, trading under the various pandemic restrictions has been strong, with a high number of bookings and demand for tickets to events the hotel has been able to host, in excess of the numbers allowed under the COVID reduced capacity. Everyone is confident that the hotel will return to pre-COVID levels of trade once the restrictions are lifted.”
We are delighted to bring to market The Shankly Hotel at a time when the UK staycation market remains buoyant. Liverpool is the sixth most visited city in the UK with a strong performing hotel market, which benefits from a good mix of commercial and leisure demand. There is pent up demand for this kind of hotel which can accommodate groups of people keen to unite when restrictions allow.
While post-covid domestic holidays continue to appeal to travellers, we expect the UK outlook in 2021 to remain strong with CBRE expecting the hotel sector to fully recover by 2024. As such The Shankly Hotel represents an excellent opportunity for a keen investor to acquire a consistently high performing hotel with a national profile and a range of additional revenue streams and further development potential.