Liverpool is poised to get its first five-star hotel in a major renovation of a historic bank. Castlewood Securities, which has owned the former Martins Bank for 20 years, was acquired by Principal Hayley Group Hotels as part of a £50 million deal.
Castlewood, advised by law firm Brabners on the acquisition, obtained full planning and listed building consent for the proposed development several months ago. The renovation will turn the erstwhile financial center into a 227-room luxury hotel.
Work will start on the project this year with a potential opening in late 2017 or early 2018.