Those who invested into the existing Hotel back in 2015 have been paid an 8.5% net return p.a. and will soon be able to exercise their Put Option to exit their investment and have their 100% capital returned plus an uplift of 10%, in total a 35.5% net return over three years. We have reduced the investment term for the second Shankly Hotel and made other changes following feedback from current investors.
The Hotel will occupy the former Post Office building which is centrally located in Preston City where significant investment inflows are expected over the coming years. Preston’s city centre is a historical place that’s home to important monuments and buildings such as the War Memorial dedicated to fallen soldiers from the local area and the Grade II Listed former Fish Market, making it an interesting cultural destination for domestic and international visitors. The £15m transformation of Preston’s former main post office into the Shankly Hotel is currently underway and set for completion by April next year.
Updated on October 30, 2018 at 3:07 pm