Arena House

Located on Duke Street in Liverpool, was originally converted into a 54-bed student accommodation property designed to provide affordable housing for university students. While initially successful, the property faced significant challenges following the outbreak of the COVID-19 pandemic. Its communal layout, particularly the shared bathroom facilities, became increasingly unsuitable due to heightened concerns around virus transmission and difficulties isolating during lockdowns and outbreaks of new variants.

The COVID-19 pandemic severely impacted Arena House, rendering its communal facilities impractical and contributing to declining occupancy rates and major operational disruption. The existing ownership structure further complicated efforts to address these issues, preventing the property from accessing funding for essential refurbishment or redevelopment. Leaseholders were unable to collectively finance the required upgrades due to a fragmented ownership model, placing the property at risk of financial instability and potential collapse.

To overcome these challenges, VOYA implemented a strategic restructuring initiative. Leaseholders were invited to surrender their individual leaseholds in exchange for shareholdings in a newly formed company, in which VOYA also became a shareholder. This restructured ownership model enabled VOYA to secure the necessary funding and take control of the site’s future development. Between 2020 and 2024, VOYA committed substantial investment to cover all associated legal, architectural, and consultancy costs, laying the groundwork for the redevelopment of Arena House into a modern hospitality venue aligned with contemporary market expectations.

In early 2024, VOYA secured planning permission to redevelop Arena House into 82 Duke Street, a premium hospitality destination scheduled for completion by December 2025. The project will deliver a distinctive, design-led experience with ergonomic features and modern amenities, contributing to the revitalisation of Liverpool’s hospitality landscape. VOYA’s significant financial investment, combined with strategic legal support from Ai Law’s specialist restructuring team, has enabled the successful transition of Arena House from a distressed student asset into a commercially viable and desirable hospitality offering. The transformation of 82 Duke Street will enhance VOYA’s portfolio, increase shareholder value, and generate long-term returns on investment.