Hotel Brooklyn sold to Singapore’s CDL Hospitality Trusts for £24.1m

A subsidiary of Singapore’s CDL Hospitality Trusts has bought Hotel Brooklyn in Manchester for around £24.1m.

The real estate investment trust said it had completed the indirect acquisition of the Bespoke-operated hotel by buying all shares in landlord Roundapple Hotel Partners III from RAHoldingsUK.

Roundapple holds a long leasehold interest in the property above the head lease that was granted by the freeholder, Manchester City Council, and leases out the property to tenant HLD (Manchester), part of Marshall Holdings, which pays a fixed rent of £2.3m per year.

It was announced that the hotel, a sister site to the city’s Hotel Gotham that was also developed by Marshall, had been sold to a private party last year.

Hotel Brooklyn opened in February 2020 and has two food and beverage outlets and three meeting rooms, as well as a casino with a restaurant and bar. A second Hotel Brooklyn is due to open in Leicester this spring.

CDL Hospitality Trusts also owns Manchester’s Lowry hotel and the Hilton Cambridge City Centre.