- Property Details
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 to accommodate up to 140 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 2021||£25.3 million|
Occupational Lease Details [ – ]
|Occupational Tenant||HLD (Manchester) Limited|
|Term of lease||60 years commencing from 7 May 2021 (3)|
|Fixed Rent||£2.3million (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 Cushman & Wakefield Debenham Tie Leung Limited using the Capitalisation method.
- (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 2021 to 6 May 2022 is £2.3 million, subject to annual upward-only rent review provisions broadly based on inflation. CDLHT has completed the acquisition of Hotel Brooklyn on 22 February 2022 and the fixed rent will be prorated for the year of 2022 for the period post-completion.
57 & 59 Portland Street, Manchester M1 3HP
~1,438 sq m
Hotel Brooklyn 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 2-minute walk to Oxford Road train station and 8-minute walk to the Manchester Piccadilly, Manchester's main train station and approximately 13.4 kilometres (20-minute drive) from the Manchester Airport.
Hotel Brooklyn was newly built and opened in February 2020 (1). The hotel is finished to a high standard, with a distinctive New York lifestyle feel. The dining offerings include two food & beverage outlets comprising Runyon's Bar & Restaurant and Salvation Bar. There are also three meeting rooms which can be combined and accommodate up to 140 people theatre-style. Napoleons Casino and Restaurant, located at the basement, comprises a casino, restaurant and cocktail bar.
Notable accolades include:
- TripAdvisor Travellers' Choice Awards 2021 | Best of The Best | Top 1% of Hotels Worldwide
- Condè Nast Traveller Readers' Choice Awards 2021: Top 30 Best Hotels in UK
- Luxury Lifestyle Magazine Readers' Travel Awards (UK) | Best Hotel for Design (2020) | Best City Hotel (2020 – 2021)
- itravel Staycation Awards 2020 – Hotel of the Year
- Catey's Accessibility Award (2021)
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- (1)Due to the COVID-19 situation, the hotel opened and closed for business intermittently between February 2020 and April 2021, but has been operational since May 2021.