Signature, which operates the 30 James Street and Shankly Hotels, says it will create 150 jobs in the scheme and offer a new events space as part of the 80,000 sq ft location. Tony McDonough reports

Developer Signature Living has acquired its 20th Liverpool property – Cavern Walks in Mathew Street – and says it will turn the building into another luxury hotel.

The company, which operates the 30 James Street and Shankly Hotels, says it will create 150 jobs in the scheme and offer a new events space as part of the 80,000 sq ft location.

Cavern Walks was once a thriving retail hub with a number of designer outlets and boutiques. But, following the opening of both nearby Metquarter and Liverpool One, its popularity as a retail destination has declined.

Now just 10 shops remain and they include Cricket, Boudoir Boutique, Weavers Door and Vivienne Westwood. The upper floors are filled with office space which is now largely empty.

Signature Living chairman, Lawrence Kenwright, said: “Cavern Walks has a special place in Liverpool’s heart. For years, it dominated the retail arena that saw visitors travel from all over the UK.

“But, as retail and customer habits changed, the building has struggled to evolve. And it’s a real shame that the office space within the building has lay empty for over 10 years, along with a strewn of empty shops. 

“However, with its illustrious Beatles history and unique location, we believe Signature Living’s expertise at giving large buildings a new reason to live again as a luxury hotel, will be integral to not only add many hotel guests to the new Cavern Walks – but also ensuring that the tone of the street is geared to a higher standard.

“This will be the key ingredient to help make it thrive once again – whilst also helping to create new jobs and drive footfall into a part of the city centre which is in need of regeneration.”