Signature puts Liverpool hotels on market for £51m
Signature Living has put The Shankly and 30 James Street hotels in Liverpool on the market, with the properties attracting price tags of £35m and £16m respectively.
Lawrence Kenwright’s Signature Living has instructed Savills to attract a buyer for the hotels, after first trailing a sale in May this year. In May, the developer said the Shankly was valued at £40m, with James Street valued at £17m.
The Shankly Hotel at 60 Victoria Street includes 59 aparthotel style bedrooms all based upon the football player and manager, Bill Shankly. The hotel also has a bar and restaurant, two event suites, two roof top terraces and an underground car park.
At the grade two-listed 30 James Street, there are 63 aparthotel rooms along with a terrace bar and restaurant, events space and spa facilities.
Signature Living announced in late April that it has bought out this project’s original investors, having funded the project by fractional sales.
The James Street and Shankly hotels opened in 2014 and 2015 respectively.
Signature Living founder, Lawrence Kenwright, said: “Signature Living has developed and operated two of Liverpool’s most successful hotels ever with The Shankly and 30 James Street. The hotels are huge tourism beacons in their own right, turning over incredible profits.
The profits from the sale of the hotels will allow us to fuel major expansion plans. This is an exciting new era for Signature Living. We’re looking forward to the future – a future that involves new developments across the UK.”
Tom Cunningham, director at Savills Manchester, added: “The Shankly and 30 James Street hotels present investors with two rare opportunities to acquire iconic, characterful hotels in the centre of Liverpool. With the city continuing to enjoy strong tourism growth, we’re expecting significant interest is these two sites.”
Kenwright’s business now has projects at various stages of the planning and development cycle. Locally, these include the Dixie Dean Hotel, an expansion of Alma De Cuba, the Cavern Walks Hotel and Kingsway House, where it plans to convert 1960s offices into apartments.
Also in the North West, Signature has plans for the 1824-built Rainhill Hall in St Helens, where it won consent in 2018 for a wedding venue and hotel. In April, reworked plans emerged for the Commercial Hotel site in Liverpool Road, Manchester, now proposed to house the 42-bedroom Quality Street Hotel. In 2017, Signature submitted plans for an apartment project at Victoria Mill, Miles Platting.
In its most recent accounts, filed in July this year and covering the year to 31 March 2018, Signature Living’s hotel business reported a turnover of £20.6m and a pre-tax profit of £674,000. It also listed tangible assets of £62m.
A year earlier, the group reported a pre-tax loss of £5.7m on a turnover of £14m.
Earlier this month, another Signature business, Signature Living Residential, was hit by a winding-up petition by one its creditors.