Signature Living Hotels completes purchase of Liverpool's Print building

The Print building in Liverpool has been sold to Signature Living Hotels after the business was closed by the previous operators following a serious flood.

Administrator PKF was appointed to look after the Stanley Street property in September 2011. The sale was completed on 28 February this year, following exchange of contracts in November last year.

The proceeds of the sale will be used to pay back the creditors of the former owner, Ringmist. The hotel was previously operated by The Stanley Street Company, which also went into administration.

The new hotel will be called the Print and Ink hotel and is expected to open later this month.

PKF partner Kerry Bailey said: "The Print building has a fascinating history dating back to the 1880s and the Signature Living team has clearly recognised its potential. They have an excellent track record in this area and I'm sure that the Print & Ink Hotel will be yet another success.

"The sale is also good news for creditors, and represents the culmination of 18 months of hard work by PKF's North West Corporate Recovery team."

PKF declined to reveal how much the hotel was sold for.