Liverpool council buys Royal Insurance building
LIVERPOOL City Council has bought the freehold of the Royal Insurance building in the city to help bring forward a hotel scheme.
It said it had paid £1.95m to the local property group Highneal for the building.
Runcorn developer Ashall Property will now invest £18m restoring the grade II-listed property on the corner of North John Street and Dale Street which has been empty for 20 years.
It is hoped it will open late next year as a 116-bed four-star hotel operated by Glasgow-based BDL Management as Aloft Liverpool, under licence from the US group Starwood Hotels & Resorts.
Mayor of Liverpool Joe Anderson said: “The Royal Insurance building is an important landmark in the heart of our city, with outstanding architectural and historical value. It has lain derelict for too long and we are determined to bring it back into meaningful use.
“Our deal with Ashall and our success in signing-up Aloft gives us a fantastic opportunity to breathe new life into the building. It’s a great example of how we are working with the private sector to attract new investment, preserve our heritage and reduce the number of buildings at risk in our city, while boosting our hotel offer.”
The conversion scheme for the building has been designed by Liverpool architect Falconer Chester Hall (FCH). Balfour Beatty is the main contractor. English Heritage has committed a grant of £297,500.
Ashall first won planning approval for the hotel last April.
