Fragrance Group sets up new unit in UK; acquires Manchester property for $21.9 mil

By PC Lee / The Edge Singapore | August 29, 2017 10:50 AM SGT
Fragrance Group has incorporated a wholly owned subsidiary in the United Kingdom, known as Fragrance UK-Manchester.
Fragrance UK-Manchester will be property investment holding company and has a paid-up capital of GBP1 million.
Meanwhile, Fragrance Group has acquired The Townhouse Hotel located at 101 Portland Street in Manchester, UK, for GBP12.5 million ($21.9 million)
Credit: The Edge Singapore
The 85-bedroom hotel is located in the heart of Manchester City Centre.
Constructed in 1870, the property has a grand facade which remained largely unchanged when it was converted into a hotel in 1982.
The Townhouse underwent an extensive refurbishment programme in 2010 to transform it into a 4-star boutique hotel.
The Manchester Art Gallery and the Palace Theatre can be reached in less than 5 minutes’ walk, while the Manchester Piccadilly Railway train station is just a 10-minute walk away. In addition, the property is a 15-minute drive from the Manchester airport.
This story first appeared on The Edge Singapore.