The developer has acquired listed buildings at 123-125 Liverpool Road in Manchester city center and is proceeding with approved plans for a 39-bedroom boutique hotel.
Salboy purchased the site from Signature Living for an undisclosed sum.
Zoe Manchester, a vehicle from Liverpool-based developer Iliad Group, and Lawrence Kenwright’s Signtaure Living won planning permission to redevelop the site in 2018.
These plans, designed by Tim Groom Architects, involved the renovation of two second-tier listed buildings – including the commercial hotel – and the creation of a modern five-storey extension.
In 2019 Kenwright announced that the hotel would be themed around Manchester’s Quality Street Gang, but the project did not progress.
After acquiring the site, Salboy and its construction arm Domis plan to develop the £12m scheme as approved.
“Our decision to acquire the Castlefield site with the intention of building a high quality boutique hotel fits with our strategy to diversify our development pipeline with more first class commercial programs,” said Simon Ismail, co -founder and CEO of Salboy. .
“Manchester continues to demonstrate its position as one of the UK’s premier tourist and cultural destinations. Hotel occupancy rates are high and the city is bustling with a growing local population and visitors all looking for great places to hang out, live and do business.
Earlier this year, Salboy entered into a joint venture with Gary Neville’s Relentless to deliver the 40-storey residential and hotel tower in St Michael’s.