Lead Asset hires CBRE to find Princes Dock hotel operator

Lead Asset Strategies, the developer behind the proposed £130m New World Square scheme at Princes Dock, Liverpool, has retained CBRE Hotels to find a four- or five-star operator.

Permission was granted for a 224-bed hotel in December 2006, since when several new or extended hotels have opened as the city geared up for European Capital of Culture. CBRE Hotels said the city's hotel prospects remained "strong", with current hotel occupancy and rates healthy.

If developed, New World Square would include 16,900 sq ft of commercial space, 8,000 sq ft of offices, a 4,500 sq ft restaurant and 356 flats. CB Richard Ellis is also agent for the non-hotel elements.