JSM swoops for boutique Liverpool hotel

The local investor is the new owner of 62 Castle Street, fronting Derby Square and next door neighbour of the firm’s Castle Moat House asset.

Moffatt Scott handled the acquisition of 56-62 Castle Street on behalf of JSM Group, which has invested in the refurbishment of Castle Moat House this year, also bringing in an Irish bar operator.

The vendor was District & Urban Investments, with the sale price undisclosed in the off-market deal. The property is let on a long lease expiring in 2056.

Formerly known as the Trials Hotel, the building is grade two-listed and was built in the 1860s for Alliance Bank. Following a 2021 refurbishment, it has 20 guest rooms, 18 of which are suites.

Andrew Scott, director at Moffatt Scott, said:  “We are delighted to have acted for JSM Group on the acquisition of this landmark building. I walk past this property every day on the way to my office and we have canvassed the owner for many years.

“Buildings of this quality and profile in Liverpool city centre rarely come to the market, and alongside our client’s adjacent building, it offers significant asset management potential.”

Jamie Motlagh, owner of JSM Group, said: “This investment was a perfect fit for us and we are delighted to have secured it. It complements our acquisition of Castle Moat House next door, which we extensively refurbished earlier this year, and is a great addition to our growing portfolio in Liverpool.

“We look forward to working with the tenants going forward and are keen to acquire similar properties should the opportunity arise.”

Hospitality specialist JSM secured a consent to convert the former NatWest back further down Castle Street into a 92-bed hotel in 2022, and earlier this year changed its plans for the upper floors of Cavern Walks, which it is developing into 85 serviced apartments with partner Greenwood Developments.

JSM also bought the former magistrates court on Dale Street last year, for around £2m.