Fri, 03 May 2019 | BUSINESS SALE
The Signature Living Group has announced that it will put its two biggest assets up for sale: 30 James Street and Shankly Hotel.
The sale of the properties, both located in Liverpool follows the group's decision to expand into different locations and set aside significant investment in a number of new hotel and residential developments.
New properties for the Signature Living Group have included Dixie Dean Hotel in Liverpool, George Best Hotel in Belfast, RainHill Hall in St Helens and Victoria Mill in Manchester. The group is also planning to launch its first cruise ship enterprise in Spain.
The Titanic-themed 30 James Street, valued at £17 million, was first opened by the Signature Living Group in 2014, and is the former headquarters of the White Star Line, which owned the Titanic. The hotel offers 63 bedrooms, a spa, a conference and events hall and a restaurant. Occupancy rates are some of the highest in the city, averaging 98 per cent.
The Shankly Hotel was opened with the family of late football manager Bill Shankly and has won multiple awards including Hotel of the Year in 2016. The hotel is valued at £40 million and offers a popular restaurant and two major conference and event halls.
Commenting on the sales, Signature Living chairman Lawrence Kenwright said: "The profits from the sale of the hotels will allow us to fuel our major expansion plans as we aim to add another 10 hotels to our portfolio, along with increasing our workforce from 1,400 employees to 3,000 in the next 18 months."
He added: "There is already huge international interest in purchasing the hotels from us. We are carefully considering options and over the last couple of days have discussed our decision with employees and other stakeholders."
This is a unique opportunity to acquire a business formed by the merger of two established companies offering a comprehensive, integrated solution.
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