Developers reunited in French hotels business

Apr 2 2008 by Alistair Houghton, Liverpool Daily Post

MERSEYSIDE developer Paul Bolton has recruited another Liverpool property specialist to his new business developing hotel and leisure opportunities in France.

Mr Bolton, former chairman of Vermont Developments, is chairman of developer Space France which is working on several projects in the French Alps.

Space France has now appointed David Leathem, who worked with Mr Bolton at Vermont and housebuilder Charlton Homes, as finance director – and he says the company may look to develop projects in the UK.

Space France was set up last year by Mr Bolton with partners Perry Gamby, Ben Norrington and Ben Ancher.

Mr Leathem, who was finance director at Vermont, said: “Space France creates high quality leisure accommodation working alongside some of the world’s leading hotel and leisure brands. I’m excited to join the team and have been bowled over by the quality of the projects Space France is taking forward.

“I had a fantastic time working for Vermont and am proud of my contribution to projects like Sefton Street, which is going to be a great success in Liverpool.

“But this is a new challenge and I look forward to working with Paul on other schemes within a broader Space Group – including hotel and leisure projects in the UK.”

The company’s development portfolio includes four projects near Serre Chevalier, one of the largest ski resorts in the Alps.

It will soon start work on the £63m conversion of La Shappe, an 1840s silk mill in the town of Briancon. The building is being converted into a Ramada Resort with 176 rooms and suites, 70 lifestyle apartments, a spa, market and museum.

The project will take three years to build and the first phase of 176 apartments is already sold out.

Other projects in Briancon include a Days Inn, with 97 rooms and 100 apartments, and a Best Western with 59 rooms and suites. Space France also has a 52-room Best Western under development in the village of Chantemerle.

Mr Bolton and Mark Connor built up Charlton Homes and its city centre development arm Space before selling it to Irish builder McInerney Homes in 2002.

They founded Vermont in 2004. Mr Bolton stood down as a diector of Vermont last year but remains an investor.

alistairhoughton