Salboy buys Signature’s Castlefield hotel site
The developer has acquired listed buildings at 123-125 Liverpool Road in Manchester city centre and is pushing ahead with approved plans for a 39-bedroom boutique hotel.
Salboy bought the site from Signature Living for an undisclosed sum.
Zoe Manchester, a vehicle of Liverpool-based developer Iliad Group, and Lawrence Kenwright’s Signtaure Living won planning permission to redevelop the site in 2018.
Those plans, designed by Tim Groom Architects, featured the refurbishment of a pair of grade two-listed buildings – including the Commercial Hotel – and the creation of a modern five-storey extension.
In 2019, Kenwright announced that the hotel would be themed around Manchester’s Quality Street Gang but the project did not progress.
Having acquired the site, Salboy and its construction arm Domis plan to develop the £12m scheme as approved.
“Our decision to acquire the Castlefield site with the intention to build a high-quality, boutique hotel chimes with our strategy to diversify our development pipeline with more first-class commercial schemes,” said Simon Ismail, co-founder and managing director of Salboy.
“Manchester continues to demonstrate its position as one of the UK’s top destinations for tourism and culture. Hotel occupancy rates are high and the city is bustling with a growing local population and visitors all looking for great places to spend time, live and do business.”
Earlier this year, Salboy entered into a joint venture with Gary Neville’s Relentless to deliver the 40-storey residential and hotel tower at St Michael’s.