Funding search launched for Echo Building
Paradigm Property Consultants and Savills have been appointed by Reach, formerly Trinity Mirror, to find a forward-funder for the redevelopment of Liverpool’s Echo Building, set to feature a 207-bed hotel, 49,000 sq ft of office space, and 26,000 sq ft of retail and leisure.
The building on Old Hall Street is being vacated by the Liverpool Echo, which is moving its 300 staff to a 25,000 sq ft space at the opposite 5 St Paul’s Square building.
Reach is working with Trinity Investment Management and Paradigm Investment Management to bring forward the conversion of the building and has already signed up Melia Hotels International as operator, which will operate a four-star, 207-bed hotel over 17 floors under its Innside brand.
Plans for the upper floors include a restaurant and bar, conference, and a sky bar which will be made accessible to the public, while there will also be 49,000 sq ft of office space on the first and second floors.
Working with architect Corstorphine + Wright, the proposals include four retail units and a 15,500 sq ft leisure unit on the ground floor, which is currently inaccessible from the outside.
The building’s façade is also due to undergo a comprehensive refurbishment including a black granite cladding and replacement windows, alongside new fins on the tower’s corners.
Place North West revealed earlier this year that two contractors – ISG and MAC – were bidding for the project, although a main contractor has yet to be confirmed. The redevelopment is set to complete in September 2019.
Mike Shaw of Reach said: “We have worked with Meliá International and the design team for two years to design an upscale modern hotel, built to Meliá’s exacting brand standards, to produce a fabulous new business and tourist destination in the centre of Liverpool with views over the city and the river.
“The new offices will satisfy the IT and technology requirements of the market while the gym and retail/leisure floorspace will create a vibrant street scene at ground floor level.”
