Signature Hotel, Liverpool
Signature Hotel, the number-one ranked hotel in Liverpool on TripAdvisor, has secured £2m worth of funding from Assetz Capital.
The 115-guest capacity hotel was built in 1884 and later converted to a print works until 1965.
The building is famous for its links to local band OMD (Orchesteral Manoeuvres In The Dark) which set up a recording studio at the Stanley Street property in the early 1980s.
Lawrence Kenwright, owner of Signature Hotel and chairman of Signature Living, completed a £5m restoration project in 2012 to transform the building into five floors of luxury hotel suites and apartments.
Signature Living, is now the largest and most successful hotel operator in Liverpool and consistently achieves 94% occupancy across its estate, which includes the Shankly Hotel, 30 James Street and The Arthouse.
The family-run property developer, owner and hotel operator created a unique funding model – using crowdfunding and splitting its property into smaller sections to market to individual investors.
The business has now turned to P2P, following an introduction from Alan Hill at Business Loan 4U, to refinance Signature Hotel from a bridging lender.
David Marsh, managing director at Signature Living, said: “Over the years we have developed a unique funding model that has helped us to become one of the fastest growing hoteliers in the UK market.
“We’ve had previous experience with crowdfunding, but by dealing with P2P we could remove investors and come up with a long-term finance solution that would allow us to utilise cash in other areas of the business.
“By partnering with Assetz Capital we have been able to continue with what we do best – bringing genuine experiences for our guests across our portfolio of hotels and apartments.
“We look forward to our ongoing relationship with Assetz Capital and will be collaborating on more ventures across the country.”
Signature Living now boasts a turnover in excess of £100m and employs 840 staff across the UK which will rise to 1,200 staff by the end of 2018.