Marshall CDP sells Manchester Hotel Brooklyn
Marshall CDP has sold Manchester's Hotel Brooklyn to a private party in an ‘off-market process'.
The 189-bedroom hotel opened in February 2020 as a sister site to Hotel Gotham, also in Manchester, and will continue to be operated by Bespoke Hotels following the sale.
Thomas Greenall, chief executive of Bespoke Hotels, said the deal would enable Bespoke and Marshall CDP to strengthen their commitment to developing more sites together. A second Hotel Brooklyn is due to open in Leicester in early 2022.
Oliver Heywood, associate director in Cushman & Wakefield's hospitality team, which represented Marshall CDP, said: "Despite the Covid pandemic, this sale demonstrates investor appetite for Manchester remains strong for quality city centre assets of this nature. Hotel Brooklyn is a unique hotel and concept that is positioned in the upscale lifestyle sector of the market, which continues to grow and thrive in Manchester."
Rob Seabrook, head of hotel transactions for EMEA at Cushman & Wakefield, added: "This is the third hotel sale Cushman & Wakefield have completed in Manchester in the last six months, coming fast on the heels of the acquisition of the freehold of the Park Inn Manchester for an institutional investor in December and the sale of La Reserve aparthotel in March. These transactions demonstrate the importance of this vibrant city to hotel investors."