The sale of the company that owned the former Free Trade Hall in Manchester raised almost £38m when it was bought out of receivership.
Free Trade Hall Hotel Ltd, which operated the building as a five-star Radisson Edwardian hotel, was sold by Grant Thornton last year for £37.9m to The Edwardian Group.
The building itself was valued at £22.5m as part of the transaction, with furniture and equipment carrying a £5.8m price tag.
It was acquired by the hotel’s operator, the Edwardian Group, which paid a little over the asking price.
The firm’s largest creditor, Lloyds Banking Group, recovered its loan of £31.2m through the sale.
simon.binns@estatesgazette.com
