£2m HOTEL ON MARKET FOR £1

... but there’s a costly catch for new owner

- ED CHATTERTON News Reporter

PROPERTY tycoon who invested a hefty £3.2 million in the ill-fated refurbishment of a landmark Grade II-listed Midland hotel has put it on the market for a mere quid.

Na’im Payman snapped up The Royal Hotel in Kettering, North-amptonshire, in December 2020, shelling out £2.2 million and pumping in another million to spruce it up.

The entrepreneur admits his funds have dried up, dashing his vision of transforming the establishment into a prominent destination.