Kettering Royal Hotel withdrawn from '£1' auction as owners look to sell to interested firms
Kettering’s Royal Hotel has been withdrawn from auction that invited bids of £1 as they look at offers from interested hotel firms and housing providers.
The iconic 43-room building in Market Place, Kettering had been listed for purchase at the unprecedented price of just £1 with no reserve with the hope of finding ‘visionary developers’.
Owner Na'ím Anís Paymán has confirmed to the Northants Telegraph the auction has been postponed as he looks at candidates who have shown interest in taking on the business.
The auction came after his plans were shelved for a new all-under-one roof wedding venue in the heart of the town.
He said: “We have decided to delay it [the auction] for the time being while we review a few offers.
"The strongest candidates are hotel firms, we have had interest from housing people as well, but I'd prefer to sell it for continued use as a community asset.”
Bidders had been ready for the auction that was due to take place yesterday (July 31), but the much-loved hotel was withdrawn earlier in the month.
Mr Payman had expressed ‘deep regret’ at having to sell the historic Grade II listed complex after he couldn’t find financial backing for his plans of a new all-under-one roof wedding venue in the heart of the town.
All the bedrooms were stripped back to allow the interiors to be remodelled – preserving the historically important Victorian architectural features.
Nearly £1m has been invested in refurbishing parts of the property that includes 43-rooms, a grand ballroom, a billiard room with a stunning glass dome, a 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 added: “We are still open to other offers from serious interested parties. 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.”