Principal Hayley Group, the hotel and conference centre provider, announced on 4 February that it has purchased the Martins Bank building in Liverpool, and plans to convert the Grade II-listed property on Water Street into a 227-room hotel with a spa, and food and beverage offerings.
The Martins Bank building was designed by architect Herbert James Rowse and completed in 1932.
The acquisition follows a wider £100m strategic repositioning of Principal Hayley Group’s city centre properties, including The Royal York Hotel in York and The George Hotel in Edinburgh, both of which recently reopened following renovations that honoured the histories of the two properties while adding amenities.
An additional multi-million-pound investment is planned for Principal Hayley Group’s manor-house conference properties in 2016.
“We are delighted to complete the acquisition of this important property,” said Tony Troy, Principal Hayley Group’s CEO. “The Martins Bank building provides us with a strategically important presence in the heart of the Liverpool market, where there is a clear consumer need for a full-service luxury hotel and events space. Following a very successful year in 2015, we are looking forward to undertake the redevelopment of this wonderful building and, together with the development of our other key city-centre ‘grand-dame’ hotels, share our exciting plans for the future.”