Casino owner is on a safe bet for homes plan success - Monday 28th of November 2005

THE owner of Leos Casino and the next door Dolby Hotel in Liverpool plans to develop adjacent land for residential use.

Amaury Taittinger is pondering either an outright sale of the land to a developer or the possibility of a joint venture.

The land in question, one acre to the south of the Dolby hotel, was acquired by Mr Taittinger seven years ago as part of a three-acre package before the boom in property prices in the city.

The site is currently disused, but the area around it is subject to considerable development plans. These include the Baltic Triangle scheme, which will see up to 4,000 homes constructed on it once completed, the Kings Dock to the north of it, which will house about 1,800 units and a 400-home plan by Vermont Developments at Sefton Street.

Mr Taittinger said: "We are in discussions with the planning department about a planning application sometime before Christmas.

Business news

Casino owner is on a safe bet for homes plan success Nov 28 2005

By Bill Gleeson, Daily Post

THE owner of Leos Casino and the next door Dolby Hotel in Liverpool plans to develop adjacent land for residential use.

Amaury Taittinger is pondering either an outright sale of the land to a developer or the possibility of a joint venture.

The land in question, one acre to the south of the Dolby hotel, was acquired by Mr Taittinger seven years ago as part of a three-acre package before the boom in property prices in the city.

The site is currently disused, but the area around it is subject to considerable development plans. These include the Baltic Triangle scheme, which will see up to 4,000 homes constructed on it once completed, the Kings Dock to the north of it, which will house about 1,800 units and a 400-home plan by Vermont Developments at Sefton Street.

Mr Taittinger said: "We are in discussions with the planning department about a planning application sometime before Christmas.

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"We are planning a joint venture or a sale because I dont have much experience in property development.

"Liverpool is finally booming and becoming trendy.

"It will not be a tower, it will be about eight floors. We are hoping that all the floors will have great views of the city and the waterfront. It is in a good position."

Mr Taittinger said his Leos Casino business was also booming. He has always said he would like to extend it to give it more capacity.

"We were wating for the new gaming laws in 1997. But the casino is very successful. It is too small at the moment. The Dolby is also doing very well."

The French family sold its champagne interests three months ago. It is hoping to be able to acquire them back early in the new year.

Mr Taittinger said he was not prepared to discuss values, but the sale of the land should net him a significant profit as property values have increased more than three fold since it was purchased.

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