Lock & Key Hotel, 15-17 Duke Street, Liverpool
Offers Invited
- SIZE
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- SECTOR
26 bedroom hotel for sale
- USE CLASSUse class orders: C1 Hotels
C1
Key features
- High performing, modern boutique hotel offering 26 bedrooms and a popular bar and restaurant at ground floor level.
- Attractive Grade II listed Georgian Townhouse situated on a prime entertainment street in Liverpool city centre with occupiers include Pins Social Club and Duke Street Market.
- 12 recently refurbished and repositioned bedrooms at a cost of approximately £800,000.
- Hotel recently recognised in Sunday Times '100 Top British Hotels'
- Less than 2 minutes' walk from Liverpool One, a leading retail and entertainment destination attracting 22 million visitors a year and less than 10 minutes' walk from the Royal Albert Dock and M&S Ban
- Excellent transport links with both Liverpool Lime Street and Liverpool Central Stations within a 10-minute walk.
- Offers strong trading performance with the additional bedrooms now fully operational.
Description
SITUATION & LOCATION
Lock & Key Hotel 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 along with a wide range of bars and restaurants.
DESCRIPTION
The Property comprises a stunning Grade II listed Georgian Townhouse that is three storeys in height and of brick construction in keeping with properties of the same period.
15-17 Duke Street underwent a transformative refurbishment and repositioning in 2017 to provide a truly unique 14-bedroom boutique hotel. The building provides a best-in-class, contemporary specification whilst also retaining its stunning original characterful features.
Following strong trading performance, the current owners expanded the hotel operation into 19 Duke Street in 2023. The building was comprehensively repurposed at an approximate cost of £800,000, proving an additional 12 high-quality bedrooms. The expansion has exceeded trading expectations and has significantly enhanced the profitability of the hotel.
The hotel offering is also complemented by the private lounge and bar & restaurant at ground floor level. The bar & restaurant provides a vibrant offering throughout the week and is extremely popular
amongst residents and members of the public.
TITLE
The land and buildings known as 15-17 Duke Street are held Freehold under two titles, LA217453 and MS3738.
The land and buildings known as 19 Duke Street is held Long Leasehold. 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).
SERVICES
The Hotel is connected to all mains services.
LICENSES
The Hotel has a Premises License.
EPC
The Hotel has an EPC rating of B45.
TUPE
The purchaser will be required to comply with the relevant legislation in respect of current employees.
PLANNING
In relation to 15-17 Duke Street, planning was obtained on 26 April 2017 for a change of use to Hotel with ground floor cafe/bar including a dormer roof extension to the rear (17F/0254). In relation to 19 Duke Street, planning was obtained on 15 July 2020 to refurbish and convert to a hotel providing an additional 12 bedrooms, plant and storage rooms in the basement and additional back of house space (20/0893).
RATEABLE VALUE
The Rateable Value for the Lock & Key Hotel is £22,500 per annum and the Rateable Value for the ground floor bar and restaurant is £37,500 per annum.
VAT
Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price.
VIEWINGS
Strictly by appointment via CBRE, the retained sole agents.
Lock & Key Hotel 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 along with a wide range of bars and restaurants.
DESCRIPTION
The Property comprises a stunning Grade II listed Georgian Townhouse that is three storeys in height and of brick construction in keeping with properties of the same period.
15-17 Duke Street underwent a transformative refurbishment and repositioning in 2017 to provide a truly unique 14-bedroom boutique hotel. The building provides a best-in-class, contemporary specification whilst also retaining its stunning original characterful features.
Following strong trading performance, the current owners expanded the hotel operation into 19 Duke Street in 2023. The building was comprehensively repurposed at an approximate cost of £800,000, proving an additional 12 high-quality bedrooms. The expansion has exceeded trading expectations and has significantly enhanced the profitability of the hotel.
The hotel offering is also complemented by the private lounge and bar & restaurant at ground floor level. The bar & restaurant provides a vibrant offering throughout the week and is extremely popular
amongst residents and members of the public.
TITLE
The land and buildings known as 15-17 Duke Street are held Freehold under two titles, LA217453 and MS3738.
The land and buildings known as 19 Duke Street is held Long Leasehold. 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).
SERVICES
The Hotel is connected to all mains services.
LICENSES
The Hotel has a Premises License.
EPC
The Hotel has an EPC rating of B45.
TUPE
The purchaser will be required to comply with the relevant legislation in respect of current employees.
PLANNING
In relation to 15-17 Duke Street, planning was obtained on 26 April 2017 for a change of use to Hotel with ground floor cafe/bar including a dormer roof extension to the rear (17F/0254). In relation to 19 Duke Street, planning was obtained on 15 July 2020 to refurbish and convert to a hotel providing an additional 12 bedrooms, plant and storage rooms in the basement and additional back of house space (20/0893).
RATEABLE VALUE
The Rateable Value for the Lock & Key Hotel is £22,500 per annum and the Rateable Value for the ground floor bar and restaurant is £37,500 per annum.
VAT
Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price.
VIEWINGS
Strictly by appointment via CBRE, the retained sole agents.
Brochures
Lock & Key Hotel, 15-17 Duke Street, Liverpool
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Liverpool Central Station0.2 miles
- James Street Station0.4 miles
- Liverpool Lime Street Station0.4 miles
About CBRE Ltd, Manchester (Licensed, Leisure and Hotel Property)
10th Floor, 1 St. Peters Square Manchester M2 3DENotes
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