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More uncertainty over Shankly Preston as investor complaints surround parent company

Posted on - 13th December, 2019 - 7:00am | Author - | Posted in - Business, Preston City Centre, Preston News, Redevelopment
The Shankly Hotel

Uncertainty continues to surround the Shankly Preston, two months after the rescheduled opening date.

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The redevelopment of the former Post Office on the Flag Market is being carried out by Liverpool hotel and property firm Signature Living.

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However work appears to have halted at the city centre site, and there has been a lack of updates on the Shankly’s blog and social media accounts.

Back in May, Signature Living was the subject of a BBC piece which alleged that hotel investors were struggling to see a return. At the time, the firm’s founder Lawrence Kenwright told the BBC that every investor would be paid by the end of that month.

In a follow-up article in November, the BBC reported that international investors had said they’d had to fly to the UK to ask for their money back. This time the BBC quoted Kenwright as saying that investors would eventually get their money and that “they have to trust me”.

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Worried investors have continued to complain, and last month the Liverpool Echo reported how Kenwright had expressed his regret at the situation.

Adrian Phillips, Chief Executive of Preston City Council, said: “We are aware of media coverage concerning operations at Signature Living and continue to monitor the situation.

“We’ve no further information on the development of the Shankly Hotel in the former Post Office at this time, but hope Signature Living can fulfil their promises to investors and the people of Preston.”

Blog Preston has contacted the Shankly for an update but has not yet received a response.

Read more: High rise living complex in Pole Street has been given the go ahead

What do you think about the apparent lack of progress on the Shankly? Let us know in the comments.

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