The owners of the Savoy Hotel in Sliema have expressed their frustration at how the derelict building has been taken over by squatters after a fire blazed through part of the historic structure on Wednesday night.

Alex Montanaro, CEO of Exalco Group, which acquired majority ownership of the building three years ago, told Times of Malta the company was doing what it could to control the situation.

However he said he had found it impossible to keep squatters out, with the problem dating back nearly a year.

The company plans to develop the scheduled building at the top of Rue D’Argens, but has been mired in a drawn-out legal battle with dissenting minority co-owners.

It claims these minority co-oweners are holding out for exorbitant amounts while the building degrades.

Wednesday’s fire, which was quickly brought under control, started with a pile of rubbish dumped at the abandoned hotel. It is not known if it was started deliberately.

Part of the Savoy Hotel - a Grade 2 listed building - ablaze after rubbish caught fire.

“With a building so large and with so many entry points, it’s impossible to block all the doors and openings,” Mr Montanaro said.

Locks on the main entrance are being regularly removed and the doors smashed in, he said. A maintenance worker had been threatened by illegal occupants after encountering them on site.

“We’ve filed several police reports, but we’ve been told the police don’t have the manpower or the squatters are gone by the time they get there,” he said. 

“One of the neighbours told me the amount of rats running out of the building after the fire was frightening.

“They’re having to put up with drug users and squatters; they’re worried about someone jumping into their garden.”

Mr Montanaro said that, following the fire, the company were considering putting extra security in place, including bricking-up entry points and potentially installing CCTV.

He added, however, that a complete solution was likely to be impossible until development plans could go ahead, insisting the company’s proposal would involve restoring the building and would be sensitive to its historic value.

 “We want to preserve the old Savoy; God forbid it’s damaged,” he said. “We’re not trying to build any high-rise flats: we want to do something Sliema and Gżira will be proud of, because it’s a landmark building.”