Fragrance Group splashes out on Blackpool Promenade hotel

05 September 2017

International real estate advisor Savills, on behalf of a private vendor, has sold the Lyndene Hotel in Blackpool to Fragrance Group Limited from a guide price of £6.5 million.

The four storey hotel features 141 bedrooms plus three bars and two separate lounges and function rooms.  It is arranged as two traditional Victorian blocks, occupying a detached island site on Blackpool’s Central Promenade.  Blackpool Pleasure Beach, The Blackpool Tower and many of the town’s other visitor attractions are located nearby.

Martin Rogers, head of UK hotel transactions at Savills, adds: “The regional hotel market continues to perform strongly in 2017, with the North accounting for 36% of all hotel transactions in the first half of the year. Overseas investors are particularly active as they seek long term income from prominent local hotels.”

Tom Cunningham, hotels director at Savills, comments: “The hotel market in the North remains particularly attractive to investors due to the prices and returns available.  The Lyndene Hotel ticked all of these boxes and we are very pleased with the strong sale price achieved on behalf of our client.”

Under its new ownership, the property will be managed by Bespoke Hotels.  

The vendors were represented by Howard Gill and Tim Gower of CMS Cameron McKenna Nabarro Olswang LLP whilst the purchasers was represented by Forsters LLP and Maples Teesdale LLP

 
 

Key Contacts

Martin Rogers

Martin Rogers

Head of
UK Hotel Transactions

Savills Exeter

+44 (0) 20 7409 8039

 

Tom Cunningham

Tom Cunningham

Director

Savills Manchester

+44 (0) 16 1244 7709