The five-star Radission Edwardian hotel in Manchester is being prepared for a £40m sale.
Agents were this week pitching for the mandate to sell the 263-bedroom hotel, which collapsed into administration at the beginning of the month.
Grant Thornton was appointed receiver on 4 August.
The hotel, owned by Free Trade Hall Hotels, an offshoot of Peterloo Hotels, was placed in the hands of administrators after failing to refinance more than £30m of debt.
Lloyds Banking Group, which became lender to Free Trade Hall Hotels via its takeover of HBOS, had been in negotiations with the firm for several months.
The hotel’s directors claimed they had been close to agreeing a refinancing deal when administrators were appointed.
Matt Dunham, joint receiver at Grant Thornton, said: “We expect there to be significant interest from potential purchasers.”
The hotel is operated by Radission Edwardian Hotels under a long-term management agreement. Radisson Edwardian Hotels is not in administration.
annabel.dixon@estatesgazette.com
