Fladgate LLP has acted for Khanna Enterprises (Manchester) Limited on the acquisition of Invicta House, Atkinson Street, Manchester. The purchase was conditional on securing planning permission for change of use from an office to a hotel and the subsequent development of a new build, 145 bedroom hotel. Real estate partner James Fry led the Fladgate team advising on the acquisition. Partial demolition of the existing office building and construction of the new hotel will commence in early 2018, with Fladgate’s construction team, led by Barry Hembling, advising on all construction related matters.
Khanna Enterprises has already entered into a franchise agreement with Marriott Hotels for the new hotel to be operated as a “Moxy” branded hotel. Commercial partner Eddie Powell advised on all the franchise documentation.
Commenting on the transaction, James Fry said: “It was a pleasure advising Khanna Enterprises on this acquisition, and we look forward to continuing our relationship with them as the project moves into the construction phase”.