This luxury hotel is on the market for only $ 1 – but there is a catch

A property developer who plunged $ 4.3 million in the convicted renovation of a Historical Historical Hotel II is now selling it for just one dollar.

Naâ € ™ IM Payman bought Hotel Royal in Kettering, Northants., Back in December 2020 for $ 3 million and has then spent an additional $ 1.4 million making it.

But the businessman now says he has finished funding to complete his dream project to turn the complex into a wedding place, restaurant, nightclub and café.

As a result, asset hunters are now being given the opportunity to capture the Victorian point for the “unprecedented” guide price of only $ 1-by spare.

The 43 -bedroom hotel has been waiting as Victoria and Charles Dickens throughout its rich 147 -year history.

Your money can get you the main hotel building, displaying a large lounge, a billiard room with a stunning glass cube, former bar and numerous functions.

However, it comes with a catch – as potential buyers are warned that it will cost at least $ 1.4 million at least to complete the Payman project.

Payman said: “With great regret that we are selling the Royal Hotel in Kettering.

“This hotel has kept a particularly special place in my heart, to give its prominent role in the city and the description of the local community for it.

“I had hoped Troly that we would be able to restore it in a way to honor its heritage and serve as a catalyst for the revitalization of the city center of Ketteringâ.

â € œ on dated, we have invested nearly $ 1.4 million in renewing property parts, identifying features of historical importance, preparing applications and drawings to bring our vision to life, and at the end of brand and digital identity.

“This included plans for a boutique cinema”, especially at the time after the last closure of Odeon “and in response to the strong community demand for such a structure.

“Property shows great promises as a popular place for weddings and events, completed with a mini-spa, bridal salt, cooperation space, café and restaurant.

“Unfortunately, despite my best efforts over the past year, I have not been able to secure the remaining funds required to complete the project.

“We had an investor ready to borrow $ 4 million, but they withdrew, so we’ve finished time and money.

“As a result, I had to make the very difficult decision to sell.

“I honestly hope that someone who shares our vision for the future of the Royal Hotel will go ahead to buy the property and carry out the project, rather than seeing it turned into apartments.

“To support this, we are more than happy to share all the drawings and reports of the heritage we have developed in order to assist new owners in providing this project both rapidly and successfully.

“I predict it will cost at least $ 1.4 million to see the vision and I hope that potential buyers will see the amazing potential he still holds.”

The hotel was rebuilt in Jacobean style in 1878 by the Duka of Buccleuch, who sold to Brewers Picketing, Phipps and CO in 1896.

Charles Dickens stayed at the hotel in 1835 as a reporter for the morning chronicle covering the Northamptonshire elections.

The hotel’s name changed in 1844 when Queen Victoria stopped in room 12 on her way to Stamford, Lincs.

Previously used by the interior office to accommodate migrants, they began work on building in the hall to turn it back into its former glory.

All bedrooms were removed again to allow the interiors to be remodelled with contttempts to preserve historically important Victorian architectural features.

As well as a big night club, the hotel has commercial shops and a cafe © in front of the market place.

The Property Agents Howsold say in the ranking of their properties: “A unique Opportunity of Troli to buy and re-fit one of Kettering’s most iconic buildings.

“The Royal Hotel, a ranked grade II landmark with Victoria, is now available for purchase, offering a considerable trail at the city’s primary trading center.

“With the proposed architectural plans available, the Royal Hotel offers the opportunity to create a modern place and events of the prime minister, restoring a valuable part of local heritage in its previous glory.”

The auction takes place on July 31 and offers can be made at https://Auctions.howsold.uk/lot/details/153011