RealVantage Acquires The Heathcote Hotel in Manchester in Partnership with Oberland
THE HEATHCOTE HOTEL
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Global real estate investment platform RealVantage has completed the off-market acquisition of The Heathcote Hotel, a Grade II-listed heritage hospitality asset previously known as ABode Manchester, in Manchester, United Kingdom. The acquisition was completed in partnership with London-based real estate investor and asset manager Oberland, marking the second collaboration between the two firms.
The transaction has a total capitalization of £14 million, with RealVantage holding an 85% equity stake and Oberland holding the remaining 15%.
According to Keith Ong, co-founder and CEO of RealVantage, the investment reflects both firms’ focus on value-add strategies and active asset management. Following a planned soft launch in October 2026, RealVantage will oversee investment monitoring and asset management, with a targeted 12 to 18-month asset management period to improve operational performance and asset value.
The investment is expected to target a 16% net internal rate of return for investors on the RealVantage platform over an estimated 36-month investment period.
Property details
The Heathcote Hotel is located at 107 Piccadilly, close to Manchester Piccadilly station in central Manchester. The freehold property will be redeveloped to increase its room count from 61 to 78 rooms, with a total net floor area of approximately 50,000 square feet.
Renovation timeline
The hotel is expected to close in April 2026 to begin a six-month refurbishment programme covering guest rooms, public areas, and the restaurant and bar. The redevelopment will combine preservation of the building’s historic architectural features with updated facilities aimed at improving guest experience and market positioning.
Operator appointment
Hospitality investment and management firm C1 Capital has been appointed as the operator when the hotel reopens. The company currently manages seven hotels across the UK, representing approximately 1,300 rooms, with a portfolio capital value exceeding £500 million.
Global real estate investment platform RealVantage has completed the off-market acquisition of The Heathcote Hotel, a Grade II-listed heritage hospitality asset previously known as ABode Manchester, in Manchester, United Kingdom. The acquisition was completed in partnership with London-based real estate investor and asset manager Oberland, marking the second collaboration between the two firms.
The transaction has a total capitalization of £14 million, with RealVantage holding an 85% equity stake and Oberland holding the remaining 15%.
According to Keith Ong, co-founder and CEO of RealVantage, the investment reflects both firms’ focus on value-add strategies and active asset management. Following a planned soft launch in October 2026, RealVantage will oversee investment monitoring and asset management, with a targeted 12 to 18-month asset management period to improve operational performance and asset value.
