District & Urban Properties has exchanged contracts to sell a historic office block in the centre of Liverpool for conversion to a 550-bed hotel.
Signature, which operates one hotel on nearby Stanley Street, is understood to have bought Albion House for around £2m.
The block was previously occupied by White Star Line, the operator of the Titanic.
A planning application to convert the eight-storey, 350,000 sq ft structure – from where the news of the Titanic’s sinking was delivered – is now to be submitted.
The refurbished building, on the corner of Water Street and the Strand, will be branded the Titanic.
The Grade II listed building is also part of Liverpool’s Maritime Mercantile City Unesco World Heritage area.
The Richard Norman Shaw-designed office building was built between 1896 and 1898.
Pending consent, the building is expected to complete in summer 2014.
Mason Owen acted for District & Urban Properties. Signature were unrepresented.
chris.berwin@estatesgazette.com
