Jasminder Singh, chairman of the Edwardian Group, has completed the purchase of the Radisson Edwardian Free Trade Hall hotel in Manchester, for a price believed to be in excess of the £37.5m asking price.
The five-star, 263-bedroom hotel was put on the market after the owner, Free Trade Hall Hotels, went into administration in August and was placed in the hands of the receivers, Grant Thornton. Originally built as a venue for political events, the property until recently was used to host classical and pop concerts.
The Edwardian Group took over the running of the Grade II listed building in 2004, under a long-term management agreement, following its conversion to a hotel. The purchase has been supported by financial backing from HSBC.
Chief operating officer of the Edwardian Group, Paul Mansi, said that the company has ambitious plans for the property, which will be announced in the coming months. "Suffice to say that these changes will delight our strong and loyal guests in the area and will reflect our Manchester heritage."
The Edwardian Group now owns 12 of the 14 hotels it operates across the UK. It operates management contracts at New Providence Wharf, East London, which is currently on the market for £37.5m and the newly opened Radisson Edwardian Guildford.
By Janet Harmer
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