Grade II listed clock tower on the edge of Liverpool city centre is set to be redeveloped into a boutique hotel after the city council finalised the disposal of its leasehold interest.
The three-storey former NatWest bank building at 104–106 London Road, which includes the prominent clock tower structure, had been on the open market since February 2023.
Liverpool City Council has now approved the disposal of a 125-year lease for the property, securing a £330,000 deal, a figure reported to be above independent market valuation.
The site has stood vacant for years and fallen into disrepair, prompting the council to seek a long-term solution through private investment.
The lease terms specify that the new owner must restore the building and convert it into a boutique hotel, in line with planning guidance and the building’s heritage designation.
According to cabinet documents, the council selected the successful bidder through an open tender process, with final approval given at a recent cabinet meeting. The building’s status as a listed property means any redevelopment work must be carefully managed in consultation with heritage officers.
Situated in the London Road area, a key gateway into the city centre, the conversion is expected to support the wider regeneration of the surrounding Knowledge Quarter and Lime Street corridor.
A council spokesperson said the agreement would bring “a long-vacant asset back into sustainable use” and encourage further private investment in the area.
Work on the building’s transformation is expected to begin following planning and listed building consent.
