Grosvenor has raised the for sale sign over the proposed Hilton hotel it is developing in Liverpool.

It has instructed CB Richard Ellis Hotels to sell the four star, 216 bed Hilton hotel that is part of its £900m Liverpool One scheme.

Hilton is to manage the hotel, which will be on Strand Street at the south side of the five-acre Cesar Pelli-designed park, under a 20 year management agreement and will take possession of the building at the end of next year.

A price approaching £60m has been mooted by sources close to the sale.

The hotel, designed by Squire & Partners, will also have 47 apartments on three floors above the 216 hotel bedrooms.