Tune Hotel, housed in a historic Liverpool building, is up for sale for £5m. The 100-bed, three-star city centre hotel on Castle Street is a Grade II listed building, built between 1837 and 1839 for the Royal Bank, and has a 150-year leasehold. The sale also includes an additional retail unit investment let to Greggs.
The Malaysian-based budget hotel chain first opened in the city in August 2015, bringing its ‘limited-service hotels’ concept which offer ‘a 5-star sleeping experience at a 1-star price” to the UK. The chain introduced a ‘pay as you use’ system for optional services like laundered towels.
The international hotel chain operates one UK site, and seven sites across Malaysia.
Tom Cunningham, director in the hotel capital market team at Savills Manchester, which launched the sale, said: “This is a prime hotel opportunity for an incoming buyer with opportunity to rebrand and add value. Tune is in a fantastic location, with Liverpool city centre currently undergoing a huge amount of regeneration. We expect there to be a lot of interest coming forward.”
