American investor Marathon Asset Management has continued its UK expansion with the purchase of Hotel Indigo in Liverpool for £13m – an 8% yield.
The property comprises 151 guest rooms, a fitness room, front and rear terraces, the Cotton Lounge & Bar and a Marco Pierre White Steakhouse Bar & Grill, which seats up to 120 diners.
Jeremy Jones, head of hotels at Christie + Co, who advised vendors Downing on the sale, said: “Liverpool’s reputation over the past few years has grown and grown. Hotel Indigo encapsulates the style and buzz of the unique city.”
The acquisition follows Marathon’s 2014 purchase of the Queens Moat House Group for £135m and the 2015 purchase of the Mint hotels portfolio from Blackstone for £160m. It also bought the 140-bedroom Doubletree hotel in Chester earlier this year.
Marathon remains an active seeker of new investment deals.
