A developer in the North East has successfully signed off on a £15m deal with Maven Capital Partners, to bring a new Hotel Indigo to Durham.
Kevin Brown and his business partner Shaun Crawley purchased the Grade-II listed Shire Hall in 2014 and have now secured planning permission to convert the property into an 81-bed, four-star boutique hotel under IHG’s Hotel Indigo umbrella.
The new hotel will also be home to a 150-cover Marco Pierre White Steakhouse Bar and Grill and be managed by Interstate Hotels and Resorts.
Developer Kevin Brown said: “It’s taken just over a year to find the right buyer and broker the deal. From the outset it has been vital to find the right partners to produce an outstanding hotel for the city and equally as important, to secure Shire Hall’s future and prevent any further deterioration and damage to the building.
The Victorian property boasts a number of impressive period features such as the grand tiled marble staircases, wood panelling and stained glass windows that will be retained and form the basis for the 81 bedrooms.
The circular debating chamber and lobby room will also be preserved, and turned into a cocktail bar and MPW restaurant.
The refurbishment of Shire Hall is expected to take 15 months, with the hotel being scheduled to open in the autumn of 2017.
Ramsay Duff, investment director at Maven said: “Maven is delighted to be involved in this prestigious project, bringing such a magnificent building back into use and allowing us to further develop our relationships with IHG and the Hotel Indigo brand, Interstate and MPW.
“We anticipate that the Hotel Indigo at the historic Shire Hall will not only become a ‘must visit’ destination, but also address the demand that exists in the city for more high-quality hotel accommodation.”