The former Liverpool Daily Post and Echo building is to be transformed into a hotel, business, retail and leisure scheme after being sold to a Middle Eastern investor.
The Old Hall Street building has been acquired by Dubai-based business Select Group, which says it will create a “vibrant new mixed use destination”.
Spanish hotel giant Melia is to open a four-star Innside by Melia hotel at the building, including 207 bedrooms, a restaurant, conference facilities, rooftop bar and a gym.
The Echo moved to its new home at St Paul’s Square back in April after 45 years on Old Hall Street.
Rahail Aslam, group chief executive of Select Group, said: “Having deployed substantial capital in the city previously, we know Liverpool well and firmly believe it will deliver superior long term rates of economic growth and increase in its attractiveness to other institutional investors.
“We are thrilled to contribute with the redevelopment of the Echo Building, a landmark project that will be a fantastic showcase for the Innside brand and extremely well suited to corporate occupiers.”
Property agency Savills worked on behalf of ECHO parent Reach plc, formerly known as Trinity Mirror.
