Stalled £15m Shankly Hotel Preston moves forward
Kroll Advisory has submitted plans on behalf of Signature Living Preston to complete the conversion of the grade two-listed building off Birley Street, a year after construction was halted due to administration delays.
Fresh plans have been submitted for the Shankly Hotel Preston, named after former Liverpool FC manager and Preston North End footballer Bill Shankly. Proposals include a restaurant and bar, a wedding and function space, and a spa to be created on the former Post Office site.
The number of proposed bedrooms has not yet been specified.
Signature Living Preston, part of the Signature Living Group, was awarded planning permission for a 66-bedroom venue on the site in 2017, having acquired the land from Preston City Council earlier that year.
Work started on the conversion in 2017, however construction was never completed due to Signature Living Preston entering administration last August, owing £22m to its creditors.
Kroll was appointed as administrator by development finance provider Lyell Trading. Lyell had lent Signature £12m for the £15m redevelopment, however the developer fell behind on repayments due to project delays and cost overruns.
Signature Living Preston was not the Group’s only firm to enter administration last year. Lyell also called in administrators on Signature Eden and Rainhill Hall, while Henslow Trading called time on Signature Living Lifestyles. Last October, it was revealed that the four companies owed a combined total of £56m.
To find out more about Kroll Advisory’s plans for the Shankly Hotel Preston, search for application number 06/2023/0816 on Preston City Council’s planning portal.