The Lock & Key Hotel, 15-17 Duke Street, Liverpool, L1 5AP

The property is a stunning three storey Grade II listed Georgian townhouse. 15-17 Duke Street underwent a transformative refurbishment in 2017 to provide a unique 14-bedroom boutique hotel. The building provides a best-in-class, contemporary specification whilst also retaining its stunning original characterful features. The owners then expanded the hotel operation into 19 Duke Street in 2023 adding an additional 12 high-quality
bedrooms.

The hotel offering is also complemented by the private lounge and bar & restaurant at ground floor level located by the main reception.

Lock & Key Hotel is located in Liverpool city centre, one of the UKs largest and most popular tourist destinations. It occupies a prime position on Duke Street in the heart of Liverpool city centre.

The hotel is within a short walk of all major attractions in Liverpool city centre including Liverpool One and The Royal Albert Dock which has a wide range of bars and restaurants.

Liverpool attracts an estimated 66 million visitors to the city each year, making it the 5th most popular city for international visitors and 4th for domestic visitors in 2023. The visitor economy for the city region is now worth over £5bn, surpassing pre-pandemic levels from 2019.

The 26 bedrooms have been individually created in partnership with designers House of Sloane.

The rooms comprise of period style decoration with a contemporary twist. Each room displaying botanical wallpapers from design outfit Mind The Gap and House of Hackney, with deep anthracite woodwork and elegant brass accents. Bespoke velvet headboards, cocktail chairs and drinks trolleys (selected rooms) evoke a whimsical, fin-du-siecle mood. All rooms contain complimentary Wi-Fi, Smart TV’s and optional mobile door access.

The hotel has three room types, ranging from cosy rooms to spacious rooms with the larger rooms also featuring rainfall Burlington showers, cocktail trolleys and additional living space.

Originally opening as a 14 bed hotel in 2019, the hotel expanded in 2023 to 26 rooms due to its popularity and high occupancy. This led to the hotel recently being recognised in Sunday Times ‘100 Top British Hotels’.

The bar & restaurant provides a vibrant offering throughout the week and is extremely popular amongst residents and members of the public.

The bar has a speakeasy theme and serves food from 8am until 11pm along with a wide range of cocktails and drinks. The owners have been approached by a number of local bar and restaurant operators who have been looking for sites with such a prime central location. A new owner has the option to lease out this part of the property should they wish only to run the room side of the business.

Accounts for year ended 30th November 2023 show a turnover of £921,250, with a gross profit of £666,554 (72%) and an adjusted profit of £266,143.

It should be noted that the majority of this income is from when the hotel traded with just 14 letting rooms.

The land and buildings known as 15-17 Duke Street are held Freehold under Title Numbers LA217453 and MS3738.

The land and buildings known as 19 Duke Street is held long leasehold under title number MS3737. The Freeholder is Frenson Limited, and the passing rent is £40,000 on a 35 year lease expiring on 27 September 2057 (with an option to extend for up to a further 35 years, subject to a minimum of 10 additional years).