JASMINDER SINGH BUYS THE FREE TRADE HALL HOTEL, MANCHESTER
The purchase of the iconic and award winning Radisson Edwardian Free Trade Hall Hotel is announced today with the new owner, Jasminder Singh having taken possession this week.
Mr Singh, the Chairman of Edwardian Group made the purchase after the Free Trade Hall Hotel Limited, the company which owned the hotel, went into receivership in August this year.
Matt Dunham and Les Ross from the Manchester office of accountancy firm Grant Thornton UK LLP were appointed as administrative receivers and Christie & Co acted on their behalf.
Edwardian Group have operated the hotel under the Radisson Edwardian brand since its launch in 2004 and has had a long term contract in place. The sale of the building to the group is seen as a very positive move in the city guaranteeing jobs and continued quality of the hotel’s offering.
Matt Dunham, joint administrative receiver and partner at Grant Thornton UK LLP says: “Securing a sale of the hotel is a fantastic result in the current economic climate. We received a strong response to our pre-marketing process, but are delighted to have agreed a sale to Edwardian. The Group already has significant experience of managing this superb 5-star hotel and we anticipate it going from strength to strength under their expert stewardship.”
Chief Operating Officer Paul Mansi and spokesperson for the Edwardian Group said: “The purchase of the Free Trade Hall in Manchester brings the hotel under the full control of the group which ensures that the quality and the future of the hotel is both safe and sure to continue in its increasingly popular position. We have bold and ambitious plans for the hotel which will be unveiled 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.”
Edwardian Group is particularly grateful to HSBC which has acted swiftly and decisively in supporting this purchase removing any uncertainly about the future of the hotel.