Historic Kettering Royal Hotel listed for sale at just £1!
One of Kettering’s most iconic buildings, The Royal Hotel, is now available for purchase at an unprecedented price of just £1 with no reserve.
Presenting a ‘once-in-a-lifetime opportunity’ for ‘visionary developers’, the 43-room main hotel building will be auctioned off with a starting price of just £1.
The auction comes after plans were shelved for a new all-under-one roof wedding venue in the heart of the town.
Current owner, Na’im Payman, expressed ‘deep regret’ at having to sell the historic Grade II listed complex after he couldn’t find financial backing for his plans.
He said: “It is with great regret that we must announce the sale of the Royal Hotel in Kettering. This hotel has held a particularly special place in my heart, given its prominent role in the town and the deep affection the local community has for it.
"I had truly hoped we would be able to restore it in a way that honoured its legacy and served as a catalyst for the revitalisation of Kettering’s town centre.”
Previously used by the Home Office to house migrants, building work started on the ballroom to transform it back to its former glory.
All the bedrooms were stripped back to allow the interiors to be remodelled – preserving the historically important Victorian architectural features.
Mr Payman said: “To date, we have invested nearly £1m in refurbishing parts of the property, identifying features of historical significance, preparing applications and drawings to bring our vision to life, and fine-tuning the branding and digital identity.
"This included plans for a boutique cinema—especially timely following the recent closure of the Odeon—and in response to strong community demand for such a facility.
"The property showed great promise as a popular venue for weddings and events, complete with a mini-spa, bridal salon, co-working spaces, café and restaurant."
Your £1 will get you a 43-room main hotel building, stripped back to a shell, featuring a grand ballroom, a billiard room with a stunning glass dome, former bar and multiple function spaces.
As well as a large basement nightclub, the hotel has commercial storefronts and a café facing the Market Place, a derelict stable block with lapsed approval for demolition.
Mr Payman’s vision saw plans for a boutique cinema, co-working spaces, a mini-spa and event facilities.
He said: “Unfortunately, despite my best efforts over the past year, I have been unable to secure the remaining funds required to complete the project. As a result, I have had to make the very difficult decision to sell.
"I sincerely hope that someone who shares our vision for the future of the Royal Hotel will step forward to purchase the property and carry the project through, rather than see it converted into apartments.
"To support this, we are more than happy to share all drawings and heritage reports we have developed, in order to assist the new owners in delivering this project both swiftly and successfully.”
The auction takes place on July 31 at 10am via secured sale finishing at 3pm.
For details go to Howsold by clicking here.