A 87-bed hotel which used to be the home of a brewery and a jam factory is for sale for £8.5 million.
The Ainscow Hotel on Trinity Way in Salford first opened in 2014 and comprises 87 ensuite guest bedrooms arranged over two floors. The companies behind the ‘stylish 4 star boutique select service hotel’ were placed into administration last year.
Administrators said bosses, who own a number of additional buildings, had been ‘impacted by the industry ramifications’ from the Grenfell Tower disaster. Artisan H1 Limited, The Ainscow Hotel Limited, Greyday LLP, and Artisan Group Facilities Management Limited said several residential buildings owned by the group had 'incorporating cladding to the facades'.
READ MORE: Barefoot builders put lives at risk at dangerous site
Following the administration, Knight Frank has been appointed as the sole selling agent It describes the property as having a huge ‘rebranding and repositioning opportunity’.
The sellers say there is also scope for the number of rooms at the hotel, which also includes a secure car park for 36 vehicles, to be expanded from 87 to 144. Subject to planning permission, there is also potential create 99 residential apartments in the car park space.
The hotel building was first used by The Watson & Woodhead Brewery in 1878. Almost 100 years later in 1972, it became a Mackie & Sons Fruit Preserves jam factory.
It was bought by The Artisan Property Group in 2003 and later converted into the Ainscow Hotel. The venue also features a bar and dining space and meeting rooms.
Knight Frank say they are seeking offers in excess of £8,500,000 for the property. Matthew Smith, Partner in Knight Frank’s Hotels team, said: “We are delighted to be acting on behalf of the Joint Administrators.
"Given the lack of hotels available for sale in the current market, we expect The Ainscow Hotel will be well received from an array of buyer profiles. The hotel benefits from several value-add opportunities to include the potential to create an additional 57 guest bedrooms and 99 residential apartments, subject to planning permission.
“The North West of England recorded over £300m of hotel transactions in 2021 and was ranked as the third most liquid region in the UK (excluding London). Manchester accounted for 73% of this regional activity, which highlights the attractiveness of the region for hotel investment.”
You can see the listing on the Knight Frank website.
