Liverpool-focused hospitality group Signature Living has announced plans to sell two of its properties – 30 James Street and The Shankly Hotel – for £57 mln (€67 mln).
The hotel developer and operator said the sales were planned to fund a £150 mln expansion strategy, with the launch of a further six properties planned by the end of the year, in Liverpool, Preston and Belfast. Its current apartment and hotel portfolio is worth over £350 mln, according to the group.
The 30 James Street property is valued at £17 mln, while The Shankly Hotel is valued at £40 mln, Signature Living said. The group has a total of 10 hotels in the pipeline.
Commenting on the sale of the two hotels, chairman Lawrence Kenwright, who co-founded the group with his wife Katie, said: 'The sale of 30 James Street and The Shankly Hotel represents a significant milestone in the success of Signature Living for myself and Katie.
'It’s now time to focus our attention on the next exciting phase of Signature Living with some incredibly exciting projects that we have in the pipeline including three football themed hotels in Liverpool with the Dixie Dean hotel in homage to the Everton and England legend Dixie Dean, The Shankly Hotel in Preston and the George Best Hotel in Belfast.'
The company recently acquired the 80,000 ft2 (7,400 m2) Cavern Walks shopping complex, home to the Beatles-era Cavern Club, in a £8 mln deal. Signature Living plans to redevelop the space to open new shops, restaurants and bars. It will also create a new company HQ in Cavern Walks, re-house its co-working space, Signature Works, and open a new hotel.
