Two Signature Living sites placed into administration
Administrators have been appointed to two more businesses under the umbrella of the Signature Living Group.
Steve Williams and Philip Armstrong, partners at specialist business advisory firm FRP, were appointed joint administrators of Signature Living Residential Limited and Signature Victoria Mill Limited on, April 16, 2020.
Both Signature Living Residential Limited and Signature Victoria Mill Limited are special-purpose vehicles assigned to individual property development projects.
Their sole purpose is the conversion of property to primarily residential use and both are part of the wider Signature Living Group.
Signature Living Residential Limited is the conversion of an office building at 60 Old Hall Street in Liverpool city centre.
The development, once complete, will provide 123 apartments across nine floors.
This includes a three-storey extension, together with commercial use on the ground and lower ground floors.
Signature Victoria Mill Limited is the part-conversion of Victoria Mill in Miles Platting, Manchester.
The Grade II-listed former textile mill is a six-storey red brick building, part of which has previously been converted into apartments.
The part owned by Signature Victoria Mill Limited is in the process of being converted into 85 apartments across floors one to five.
The ground floor is currently occupied by various divisions of the NHS.
Following their appointment, the joint administrators are now working closely with the management team at the Signature Living Group and a team of specialist advisors to assess the status of both build projects.
They will ascertain the cost to complete the developments, with a view to securing funding from the projects’ existing lenders to enable the practical completion of both projects in due course.
Steve Williams, partner at FRP, said: “60 Old Hall Street and Victoria Mill are two highly sought after, centrally-located developments in Liverpool and Manchester.
“Our primary focus is to work closely with those involved in order to secure the funding that is needed to bring these projects to completion as swiftly as possible.”
Separately, Matthew Ingram and Michael Lennon, of Duff & Phelps, were appointed joint administrators of the Signature Living Hotel Limited on April 15, 2020, and were then appointed as joint administrators to the Bedford Hotel Limited, scheduled to open later this year as the George Best Hotel, also part of the Signature Living Group.
Duff & Phelps were also appointed as administrators of the Signature Shankly Ltd, which is the firm holding the leasehold interest of the Shankly Hotel, in Liverpool.