Royal Kettering town centre hotel up for sale as owner unable to secure funds to complete wedding venue vision
The owner of Kettering’s Royal Hotel has offered the 43-bedroom venue for sale after he was unable to secure funds to complete his town centre wedding venue vision.
Entrepreneur Na'ím Anís Paymán, founder of Paymán Investments, bought the historic Grade II-listed hotel for £2.2m in December 2020.
From November 2022, for 11 months, the bedrooms were used to house asylum seekers – a contract between SERCO, working for the Home Office, and Payman Holdings 5 Limited.
Refurbishment begun during its use as an asylum hotel continued in earnest with Mr Paymán overseeing the complete ripping out of all 43 bedrooms to transform the characterful building into a wedding venue, restaurant, nightclub and café with street-facing shops.
However, Mr Paymán 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.
“To date, we have invested nearly a million pounds 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.
“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.”
Buyers have been invited to view the hotel on Saturday (May 31) – Mr Paymán hopes an investor will be found to stop the hotel being turned into flats.
The hotel was rebuilt in the Jacobean style in 1878 by the Duke of Buccleuch, who sold it to brewers Pickering, Phipps and Co in 1896.
Charles Dickens, who was covering a by-election in 1835 as a Morning Chronicle reporter, once stayed there.
The hotel's name changed in 1844 when Queen Victoria stopped there on her way to Stamford.
It is packed with original fixtures and fittings that are all under the watchful eye of English Heritage.
Mr Paymán said: “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.
“We will be holding viewings around lunchtime on Saturday (May 31), and encourage any interested parties to reach out via our Facebook page or by emailing [email protected].”