DescriptionOperating as a high quality boutique aparthotel, No.10 Preston offers a range of individually designed luxury apartments, branded and themed to a consistently high specification. The brand is positioned at the upper end of the city’s short stay accommodation market, appealing strongly to business travellers, couples and leisure guests seeking premium, self contained accommodation.
LocationNo.10 Preston is prominently positioned on Theatre Street, in the heart of Preston city centre, within a short walk of Preston Railway Station and Fishergate shopping district. The location benefits from excellent connectivity to Manchester, Liverpool and the wider Northwest, with Junction 31 of the M6 approximately 10 minutes’ drive away. The property is ideally placed to serve corporate, leisure and short stay apartment demand in a high footfall urban setting.
Letting AccommodationThe property comprises 14 luxury apartments in total, ranging from stylish studios through to two bedroom apartments and a large presidential suite. All units are individually furnished and decorated, featuring Hypnos beds, high quality bathrooms, smart TVs, kitchenettes or full kitchens, and complimentary high speed Wi Fi. Several apartments offer generous internal areas well above typical aparthotel standards, enhancing appeal for longer stays.
All apartments are serviced via a professional housekeeping operation and benefit from self service or digital check in systems. The property is fully connected with mains utilities and offers modern IT infrastructure suitable for both short stay and extended corporate guests. Paid public parking is available close by.
The OpportunityA rare opportunity to acquire a fully established, award winning luxury aparthotel in a Northwest city centre. No.10 Preston is well suited to investors seeking a proven, operationally efficient hospitality asset with excellent branding, scalability and reputational strength. The business offers scope for further revenue optimisation through dynamic pricing, extended stay corporate agreements and portfolio integration for multi site operators.
Trading InformationOccupancy 77%
ADR £105.82
RevPAR £81.48
T/O YE 25’ over £420,000
EBITDA YE 25’ over £150,000
No.10 Preston enjoys an outstanding online reputation, ranking #1 of hotels in Preston on Tripadvisor and achieving consistently excellent scores across OTAs. Demand is underpinned by year round corporate usage, leisure breaks and event driven city demand.
TenureThe property is held on a 999 year lease which commenced on 16th January 1805 (777 years remaining).
