Manchester’s Midland Hotel in £525m purchase of QHotel portfolio

midland hotelTHE Midland Hotel in Manchester and three properties in Cheshire are among a QHotel portfolio purchased for £525m by UK real estate investment company Aprirose.

It marks the largest hotel transaction this year so far and was funded by Aprirose and its international investors, including Chinese investor Cindat Capital Management.

QHotel is head-quartered in Leeds and its portfolio is made up of a variety of hotels including spa hotels, golf resorts and luxury hotels.

The portfolio includes 26 five and four star regional hotels, with 3,680 beds spread throughout the UK and in major cities including Leeds, Manchester and Glasgow.

The three hotels in Cheshire are Mottram Hall, near Wilmslow, Crew Hall, near Crewe, and The Park Royal at Stretton.

Manish Gudka, CEO at Aprirose, said: “We are pleased to have completed on this exciting and unique portfolio. This was a complicated deal, which had a lot of interest shown in it from the market, but owing to our investors, contacts and transactional experience we were able to get it done in quick time.

“The 26 hotels, spread throughout the UK, will add a new dimension to our asset diverse real estate portfolio and also offer us opportunities to further develop the portfolio to increase the number of beds available.”

Aprirose has appointed Redefine|BDL Hotels to manage the hotels.

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