Signature Living has snapped up its second purchase in Belfast, armed with big plans to invest £15m into transforming the building into a new boutique hotel.
The Liverpool-based developer has acquired the Scottish Mutual building in Belfast, sold by the Ballymena-based Hill family, which already comes with planning permission for use as a hotel.
It is the company’s second acquisition in recent weeks, following the purchase of Crumlin Road Courthouse in March.
The move backs up the brand’s commitment to create five hotels in Belfast over the next two years, including a George Best themed hotel.
Once open, Signature Living will add the property to its portfolio of four hotels in Liverpool, including the much-acclaimed newest launch, The Shankly, themed around the footballer Bill Shankly.
Signature’s owner Lawrence Kenwright said: “The building is currently in a state of disrepair and we will be focusing on sympathetically restoring this stunning, Scottish baronial-style landmark building back to its former glory and architectural beauty.
“By committing £15m to the project, we see this as an investment in Belfast and Northern Ireland’s flourishing tourism industry.”