Market Leads & Opportunities
£16m boost for Corn Exchange Building aparthotel
The proposed transformation of the Corn Exchange Building into a 202-bedroom aparthotel has taken a major step forward with the award of a £16m loan to support the project.Challenger bank OakNorth has completed a debt finance deal to the Mason family, with the loan set to be used to convert seven of the 11 floors into an aparthotel. The building in the heart of Liverpool’s commercial district has been owned by the Mason family for the past 17 years and is the current head office of Mason Partners.The development has already been pre-let on a 35-year lease to aparthotel operator Staycity. In addition to the standard Staycity facilities, which include a 24-hour reception, kitchen, bathroom, Wi-Fi access, flat screen TV with Freeview, DVD player, and weekly housekeeping, the Corn Exchange will also have a guest laundry, a fitness room, car parking, luggage lockers, and an open-plan seating area where guests can work or eat.
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