Operational Review of Prominent European Portfolio
Christie + Co undertook an Operational Review of a prominent Hotel Portfolio on behalf of leading lenders to the sector. The deliverable provided an in-depth analysis of the Portfolio, the group head office function and performance of individual assets in terms of local market strength, competition, current and long term financial trading potential.
Christie + Co advises airport group on ‘Green’ 4-star hotel development
Advised by Christie + Co, Manchester Airport Group (MAG) Developments has developed a new 4-star hotel adjacent to East Midlands Airport. The 218-room hotel was developed at Pegasus Business Park East Midlands Airport and is operated by Azure Properties under a franchise agreement with Rezidor for a Radisson Blu. The property’s ‘green’ credentials make it the most efficient of Rezidor’s portfolio of European hotels.
Christie + Co advise Hand Picked Hotels
Christie + Co advised Hand Picked Hotels, a portfolio of 15 mainly 4 star hotels throughout the UK, founded by Guy Hands in 1999. The hotels are currently undergoing further development costed at £100 million. The company is aiming to upgrade the properties to be market leaders and to date already half the schemes have been completed.
St Mellion International Hotel, Golf & Country Club
The historic St Mellion International Hotel, Golf and Country Club is renowned for its Jack Nicklaus-designed championship golf course. The club offers a total of 35 holes of golf, a hotel and extensive conference and leisure facilities. Owners and operators, Crown Golf, commissioned Christie + Co’s Hotel Consultancy group to conduct a full diligence feasibility study to report on the demand, and potential performance of, a proposed extension to the clubs facilities.
Battersea Power Station, London
Christie + Co has been advising Parkview International on identifying and selecting an operator for the large convention hotel, which is planned for the east side of Battersea Power Station, in London. The owners have plans to convert the iconic former power station into a large mixed-use complex together with two hotels, a residential complex, offices and an auditorium.
Proposed Ramada Encore, Gateshead
Christie + Co Consultancy was instructed by Hospitality Management International to carry out a feasibility study for a proposed limited-service hotel to be run under the Ramada Encore brand. Our Valuation Services colleagues collaborated on an RICS valuation for the property.
The Brewery, Chiswell Street, London, sells for £55m
Christie + Co sold Whitbread's former HQ in the City of London, for £55m. A highly competitive marketing strategy and close teamwork resulted in over 20 bids, with the eventual sale being concluded within four months of instruction. The 250-year-old site incorporated “The Brewery”, a highly successful functions and banqueting suite, 120,000 sq ft of former office space (with planning for 118 serviced apartments) and a variety of investment and development properties in close proximity.
London Bridge Tower
Christie + Co was retained by Sellar Property Group to provide development consultancy and agency advice in respect of the landmark Renzo Piano-designed development, which was to include a luxury hotel on floors 34 to 52 of the 70-storey building. Providing input towards potential operator issues and requirements, Christie + Co assisted in the search and selection process which culminated in the appointment of the Shangri-La hotel group which is to operate a 195-bedroom, 5-Star hotel.
Proposed full-service hotel, Naples Caserta
Christie + Co carried out a full diligence market study culminating in projections of occupancy and average rates for Blue Management & Consulting. The developers plan to build a full-service, 4-Star property in the Naples area.
Clarence Dock, Leeds
Christie + Co was retained by Crosby Homes, part of the Berkeley Group, in respect of a 1,100,000 sq ft mixed-use development adjacent to the Royal Armouries Museum in Leeds - to assist with the hotel element of the scheme. Development consultancy advice was initially provided, supported by an open marketing campaign and competitive bidding scenario, culminating in the appointment of IHG's largest branded franchise operator, BDL Management, being selected as the purchaser for a 130-bed Express by Holiday Inn hotel.
Proposed Hyatt, Oporto, Portugal
North American-based Hyatt International commissioned our Hotel Consultancy Team to conduct a hotel market study in Oporto, Portugal. Working together from our Barcelona and London International Offices, our consultants evaluated the hotel development opportunity.
Christie + Co advised the new owner of the former residence of the Margrave of Baden-Baden in Germany. The owner intended to convert the property into a deluxe spa resort with a variety of facilities.
Christie + Co’s work included market research, best-use concepts, an estimation of investment costs, cash flow projections and IRR-calculations. Three different best-use scenarios were analysed, each taking into consideration the historic nature of the building which dates from the 13th and 14th centuries.