Bliss Hotels, the latest venture from Bliss Investment Partners (BIP) has acquired the 250-year head lease for the entire Waterfront development in Southport, Merseyside, from Promenade Estates in a deal thought to be worth £15m.
The move came after Bliss Hotels acquired the Ramada Plaza hotel in the same development in December 2016.
Looking over the Marine Lake and coast beyond and adjacent to the Southport Theatre and Convention Centre (STCC), the Waterfront already comprises the 133-bed, four-star hotel, together with a Genting Casino and a Hungry Horse operated by Greene King.
The Waterfront scheme was completed in October 2008 and features new public square featuring the opportunity for café bars, mixed use spaces and restaurants with views across the Marine Lake.
Robert Agsteribbe, BIP and Bliss Hotels partner said: “Our belief in Southport has only firmed up since our 2016 acquisition of the hotel. The support and enthusiasm from Sefton council has been a key part of that combined with our increased understanding of the aspiration Sefton have for the location and, indeed, the energy and ambitions of the wider region – after all we’re a frontline coastal location well within an hour drive of Manchester and Liverpool.”
BIP Partner, Daniel Broch said: “Our team are already working up plans for the launch of the new Waterfront which will be a vibrant multi-faceted leisure based destination in what is surely one of the finest coastal locations in the country. We’ve got a lot of additional space to work with so expect to see some really exciting ideas and additions which will connect with a wide customer base across the region. This is going to be a ‘must see’ for Merseyside.”
In addition to BIP equity the deal was supported by Senior Debt providers, Santander combined with Mezzanine funding arranged by Kenfin.
Bliss takes full control of Ramada Plaza Southport >>
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