Exeter’s famous fire-ravaged Royal Clarence Hotel site has been sold and is now in the hands of one of the South West’s most prominent businessmen.
Former Plymouth Argyle chairman James Brent, who has a string of directorships and plans for major developments in Plymouth, is now in charge of the Exeter city centre development site.
Andrew Brownsword Hotels has announced the completed sale of .
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It has been sold to South West Lifestyle Brands Limited, one of the companies Mr Brent is a director of. The site has planning permission in place for the creation of a 74 bedroom hotel.
Mr Brent, a former investment banker who made his name in the hotel industry, said: “We are delighted to have acquired this important site in such a stunning location.
"We look forward to working with the city, the Cathedral and other partners to replace the historic building”.
The hotel, in Cathedral Yard, was severely damaged by a fire in October 2016. Restoration plans have been in the pipeline ever since but progress has been slow. Brownsword announced in August last year it intended to sell.
It will be hoped the new owner can inject some impetus into the development plans and make the site fit for the 21st Century.
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The hotel can trace its history back to circa 1770. It was possibly the first building in England to use the word “hotel”.
It was visited by Admiral Nelson in 1801, the composer Franz Liszt in 1840 and Hollywood actor Clark Gable during World War II.
The 2016 fire gutted the building. It started in an adjoining art gallery that was being renovated at the time. More than 100 firefighters attended the blaze.
Brownsword says the site has been passed to its new custodian with preliminary enabling works completed, and the site’s historic fabric restored and protected.
Andrew Brownsword said: “We would like to thank the people of the city of Exeter who have shown us such support and patience since the fateful night of the fire.
"While we are deeply saddened that we were unable to return the hotel to the city that we love, we are satisfied that we have found a good owner for the site, who will restore this corner of Cathedral Yard to its former glory. We offer James and his team every good wish as they set to work”.
Mr Brent stepped down as chairman of Plymouth Argyle in 2018 but still has a string of directorships including South West Ticketing Solutions and Resurgam (West End) Ltd – and he’s building an ice rink.
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The Old Etonian also controls the Plymouth Pavilions events space and has earmarked ambitious plans for the site, where he has sold the car park for development.
In early 2018 Mr Brent sold the car park at the Pavilions to Vastint, an international real estate organisation, which is planning to put a hotel on it.
But his next project is the giant ice rink scheduled to be built on land right next to Plymouth Argyle’s football stadium. In early 2020 he said he wanted it built before the end of the year, but that was before the coronavirus pandemic struck.
But it is intended for the Mayflower Ice Arena to be created on a patch of derelict ground next to the club’s redeveloped £8million grandstand and the new £1.1million Green Teverners’ Suite supporters’ bar.
The arena, expected to cover 40,000sqft, will be sited between the redeveloped stadium and the Life Centre sports complex, on ground originally earmarked for the Higher Home Park office and retail development.
In the summer of 2020, Mr Brent received reserved matters planning consent for .
Mr Brent is also intending to construct a four-storey restaurant and gym block and a new veterinary centre at Western Gateway, just off Outland Road.
However, in June 2020 a hotel chain run by Mr Brent collapsed into administration putting more than 100 jobs at risk.
Suite Hospitality Ltd – which had hotels in Exeter, Windsor and Derbyshire - had a “disappointing” year in 2019 and had been in negotiations with major creditors and landlords to find a way for the company to continue, administrators said.
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Mr Brent began his career with asset management giant Schroders, becoming its youngest ever director, and leaving after 25 years to become Citigroup’s global head and chairman of real estate and lodging.
He then moved into the hotel sector, particularly with the Akkeron Group. But in 2014 three hotel firms of which he was a director went into administration and were later liquidated.
At the end of June 2020 he stepped down as chairman of Hawksmoor Investment Management after 18 months with the company he initially joined as a non-executive director before taking the chair. Mr Brent was praised for his “invaluable contribution” to the £1billion financial consultancy.
In 2018, Mr Brent relinquished control of his clothing firm Saltrock Surfwear after it went into administration and was then sold to Crew Clothing Co Group, with five stores, including one in Plymouth, closing.
Mr Brent holds a number of public sector roles too including chairman of the Royal Devon and Exeter NHS Foundation Trust.