Investors sought for 298,160 sq ft hotel-led scheme in Liverpool

Commercial agency Savills and Paradigm Property Consultants are seeking investors to back the redevelopment of Liverpool’s iconic Echo Building.

Media group Reach Plc has tasked the two firms with securing forward funding for the scheme, which will comprise 298,160 sq ft of hotel, office, leisure, retail and car parking space.

The work will create a four star Innside by Meliá hotel across 17 floors, providing 207 en-suite bedrooms, conference facilities, restaurant, gym and rooftop Skybar.

The four new retail units, totalling 10,139 sq ft, will open onto Old Hall Street.

The leisure unit will span 15,522 sq ft on the ground floor, while the first and second floors will accommodate 49,223 sq ft of Grade A office space.

How the hotel’s Skybar could look

Richard Dawes, director in Savills’ hotels team, said: “The redevelopment of Liverpool’s Echo Building is a fantastic opportunity to invest in the UK’s second largest regional economy.

“The city attracts over 62 million visitors each year underpinning the double digit hotel RevPAR growth over the last three years.”

He added: “With a thriving workforce and strong tourist market, the redevelopment will create a space that attracts a diverse range of tenants and visitors.”

Mike Shaw of Reach Plc, formerly Trinity Mirror Plc, commented: “We have worked with Meliá International and the design team for two years to design an upscale modern hotel, built to Meliá’s exacting brand standards, to produce a fabulous new business and tourist destination in the centre of Liverpool with views over the city and the river.

“The new offices will satisfy the IT and technology requirements of the market while the gym and retail/leisure floorspace will create a vibrant street scene at ground floor level.”

The redevelopment is due for completion in September 2019.