Real estate investor Oberland has announced that it has acquired the Heathcote Hotel in Manchester in partnership with RealVantage, for an undisclosed fee.
The Heathcote Hotel, originally built in 1899, was designed by eminent Mancunian
architect Charles Henry Heathcote. The Grade II-listed building still retains its grand formal staircase, original tilework, and an ornate red-sandstone and brick Jacobean-Baroque façade.
Oberland has plans to revive the property, sensitively restoring its heritage features and introducing modern touches throughout the guestrooms and public areas.
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The acquisition continues Oberland’s rapid portfolio expansion across prime UK and European cities.
Andrew Dean, co-founder of Oberland, said: “We are thrilled to expand our partnership with RealVantage with this strategic acquisition. Together, we see impressive potential in the Heathcote Hotel and are excited and humbled by the responsibility we have to restore this beautiful, heritage property in Manchester.”
William Riordan, co-founder of Oberland added, “The property marks another step in
our speciality and focus on heritage properties, with its striking architecture and impressive features. We see significant value creation opportunities and look forward to restoring the guest and public experience.”
The parties were supported in the transaction by Brodies (legal) and BDO (tax). C1 Capital Partners will be leading the hotel operations.
Oberland stated that it invests both independently and through global partnerships with established institutional investors to create legacy assets and deliver enduring value across the UK and Europe.
