Hotel on sale for £1 after owner spent £3.2million

A PROPERTY developer who sank £3.2million into the doomed renovation of a Grade II-listed hotel is selling it for just a pound.

- By Ed Chatterton

Na’im Payman purchased The Royal Hotel, in Kettering, Northants, in 2020 for £2.2m and has since spent an extra £1m doing it up.

But the businessman now says he has run out of funding to complete his dream project of turning the complex into a wedding venue, restaurant, nightclub and cafe.

As a result, property-hunters are being given the chance to snap up the 43-bedroom hotel at auction with a guide price of £1, no reserve.

The venue has hosted the likes of Queen Victoria and Charles Dickens during its rich 147-year history.

Your quid could get you the main hotel building, featuring a grand ballroom, a billiard room with a stunning glass dome, former bar and multiple function spaces.