Hotels group buys out investors in prestigious city centre site
Liverpool-based hotels operator Signature Living has today (April 26) announced it has bought out overseas investors in its 30 James Street hotel close to the city’s Pier Head waterfront.
The developer has used capital to buy out those with financial interests in the building.
In 2014, it relied on the common fractional sales model to acquire the hotel which saw them sell individual hotel rooms to investors.
Now, with the hotel a commercial success, it has activated a five-year buy-back option in the agreement to secure sole control of the asset.
Grade II-listed 30 James Street is one of Liverpool’s most historic landmark buildings. Once known as Albion House, it was home to the Titanic’s White Star Line HQ.
The 63-bedroom hotel has thrived since it opened its doors in 2014.
It has an occupancy rate of 98%, making it one of the busiest hotels in the city.
An independent valuation, carried out recently, estimates 30 James Street is worth more than £16m.
Signature Living chairman Lawrence Kenwright said: “Our business growth and success in recent years has allowed us to repay and offer significant returns to investors at 30 James Street.
“This is a landmark moment for Signature Living and we are now firmly focused on our national expansion with ongoing hotels and residential schemes in Belfast, Manchester, Preston, Cardiff and Bristol.”
Meanwhile, with a number of exciting new projects in the pipeline, Signature Living is looking to use a similar strategy to buy out the remaining investors across its property portfolio, including Liverpool hotels Arthouse, the Shankly and Cardiff’s Coal Exchange.