Property developer Maven has completed a £15 million transaction for the purchase and refurbishment of the Grade II listed Shire Hall in Durham, to convert it into an 81-room 4-star boutique Hotel Indigo Durham.
Some 60 jobs are set to be created when the hotel opens in autumn 2017 and will also feature a 150-cover Marco Pierre White steakhouse grill restaurant.
A classic example of late Victorian architecture, the building boasts a number of period features such as the grand tiled marble staircases, wood panelling and stained glass windows- all of which will be retained for the hotel. The circular debating chamber and lobby room will also be retained, providing an iconic setting for a cocktail bar and the restaurant.
Kevin Brown, who purchased the property in 2014 while securing planning permission for its redevelopment into Hotel Indigo Durham, will work alongside Shaun Crawley through their joint venture Elvet Developments Ltd (EDL) on behalf of Maven Capital Partners. 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.”
Nick Taplin, Chief Executive at Black & White Hospitality, who own the franchise rights to MPW Steakhouse Bar & Grill, said: “This is our third development with Maven Capital after Glasgow and Cardiff and we’re delighted to be continuing a very strong business relationship together.”