The 260-bed Maldron hotel has been pre-let on a 35-year lease to Dalata after Valorem Investment Partners reached a funding agreement with Aviva Investors that will see Aviva forward fund the development.
It revealed the hotel will be “ideally” located at the junction of Liver Street and Park Lane, close to the prominent city centre districts of Liverpool One and the Baltic Triangle, representing a “major investment in the city”.
According to the brand, the hotel will offer a bar and restaurant on the ground floor, a suite of meeting rooms on the first-floor level and gym facilities, with the nine-storey building set to have a “high-quality façade” composed of brickwork, glazing, solid and perforated metal panels.
The design has been developed by delivery architects Urban Innovations and initial construction work is set to begin in early 2022 with a view to the hotel being operational in Autumn 2023.
Shane Casserly, corporate development director at Dalata Hotel Group, said: “Throughout the pandemic we have remained steadfast in our commitment to Liverpool and specifically this opportunity, this confirmation is testament to that commitment and the strength of our covenant in the Fixed Income Investment market.
John Osborn, fund manager at Aviva investors, added: “We are delighted to be working with our development partners and look forward to seeing this exciting development being delivered.”