Home Bargains billionaire promises Liverpool its first five-star hotel
Liverpool could be set for its first five-star hotel if plans for a 60-storey skyscraper are approved for the city, it has emerged.
The update, delivered to investors at international property conference MIPIM in the south of France, comes after plans for the development were first revealed last year.
KEIE Limited, a subsidiary of TJ Morris – the company behind Home Bargains and controlled by billionaire Tom Morris, is behind the plans alongside Beetham.
The £1bn development would rise to 60 storeys, if backed by Liverpool City Council, and include two hotels totalling 400 bedrooms.
Separately, the developers recently confirmed that a planning application for a ‘pathfinder’ tower of 27 storeys will be submitted within a month.
“We are creating a destination and a new district in the city centre and the mix and quality of uses and operators will be key to its success,” said Hugh Frost, chairman of developer Beetham.
“A waterfront of Liverpool’s quality deserves only the best and we are here talking to hoteliers about how we can give them the setting to showcase their brand for the first time in the Liverpool market.
“The growth in the city’s high-end tourism market, particularly cruise passengers, gives us the confidence that this will succeed.”
Scheme architect Chris Bolland of Liverpool-based Brock Carmichael added: “This is all about creating a new destination to which blue chip occupiers will naturally gravitate.
“The best restaurateurs want to be next to the best hotels and office occupiers, so everything is conceived with that circularity in mind.
“We are delighted to be curating an outstanding design team that we hope will also include Simpson Haugh, and global design practice firm 3XN.”
Home Bargains billionaire pays himself more than £1bn
In January, Morning Wire reported that the billionaire owner of Home Bargains paid himself more than £1bn as sales and profit both jumped at the discount retail giant during its latest financial year.
Morris, who owns 98 per cent of Liverpool-headquartered TJ Morris, the firm behind the brand, received the vast majority of the £1.22bn in ordinary dividends and asset distributions which were dolled out in the year to 30 June, 2024.
The pay out comes after TJ Morris issued a dividend of £36m for its prior financial year.
Home Bargains’ turnover increased from £3.76bn to £4.20bn in the 12 months while its pre-tax profit also surged from £336.5m to £454.8m over the same period.
According to The Sunday Times Rich List in 2024, Tom Morris and his family are worth £5.17bn, up from the £4.84bn valuation they commanded in 2023’s list.