A North Wales hotel which suddenly ceased trading during the Covid-19 pandemic will reopen under new ownership. Northop Hall Country House Hotel was sold to a property investor from Cambridge.
The Flintshire-based hotel, previously known as The Chequers, has been bought by Paymán Investments for £850,000. The deal was reached with joint liquidators at Quantuma Advisory.
The country house, which is run as a hotel and wedding venue has 37-bedrooms, three meeting rooms, restaurant and bar for 90 covers, function and banqueting suite for 150 covers, plus an additional three-bedroom owners’ cottage and car parking for 70 vehicles.
Read more: Plans for over 100 energy efficient homes in North Wales unveiled
It closed without notice during the first Covid lockdown letting down many creditors and brides who had booked wedding receptions.
Paymán Investments will only own the building's function rooms and land as the hotel's previous owners offered each room to individual investors on long-term leaseholds. To maximise the site's value, the company hopes to create its own accommodation, possibly glamping pods, should it complete the purchase.
The firm's founder and chief executive Na’ím Anís Paymán plans to continue to operate the hotel as a wedding and events venue following a refurbishment. Mr Paymán has yet to set a timeline for the venue’s reopening, as repairs and upgrades are needed, but will be offering jobs to receptionists, serving staff, chefs, housekeepers, handymen and gardeners.
Mr Paymán said: "We are extremely proud to have acquired Northop Hall Country House Hotel. As an impact investment company, we seek to acquire assets that besides making for a successful business, can also be revitalised into becoming a hub for the local community.
Most Read
"We very much feel that this acquisition will not only make for a very successful hotel, corporate events and wedding venue given its fantastic location in North Wales and proximity to both Liverpool and Manchester, but it also has the potential to bring employment and funds to the local area as well as attract residents as a base for various community initiatives."
He added: "We are keen to work with the local community to make this place a home away from home for everyone next door or in the neighbouring shires. We are open to ideas, businesses and locals interested to make this gem the ‘go to’ place for the best and most meaningful moments in our personal or professional lives.
"The hotel and conference centre will trade under our group brand, Paymán Club. Having got married myself just a fortnight ago, my wife, Sara, and I have decided to set up a sister brand, Paymán Weddings, which will advertise a number of our wedding venues across the 海角视频 with Northop Hall Country House Hotel being one of the many beautiful venues in our collection."
Sign up to the BusinessLive Wales newsletter and follow us on LinkedIn
As well as an in-depth early morning newsletter, we will be sending out regular breaking news email alerts. To sign up to this service
And, follow us on to catch the latest stories and to network with the Welsh business community.
The firm already owns nine hospitality properties including Royal Hotel Kettering and The Grand Hotel in Skegness.
Describing himself as a "serial entrepreneur", Mr Paymán is of German and Iranian descent and grew up in Albania before moving to the 海角视频 to study at Cambridge University. He set up the Paymán Club to provide short-term accommodation in Cambridge and Oxford.
He then set up two firms providing software for the hospitality sector.
Don’t miss
Colliers, which advised on the Northop Hall deal, has completed a number of sales in North Wales including Penmaenuchaf Hall Dolgellau, Swallow Falls Hotel and Tyn y Fron both in Betws y Coed.
Colliers' associate director Neil Thomson said: "Northop Hall Country House Hotel is a magnificent property, immersed in history and undoubtedly one of North Wales’ premier venues. Not only is the hotel located in a leading tourist area, but the region is also a sought-after investment destination.
"For a while now there has been a great deal of confidence within the hospitality industry in North Wales, and the number of transactions we have completed so far this year shows this. We predict the activity to continue with the help of the Welsh Government’s recent campaign, which has been placed to attract international visitors and high spending overseas tourists to the area."
Nick Hammond, head of advisory & restructuring at Colliers, said: “We are pleased to have supported Quantuma Advisory Limited in this matter and look forward to seeing new life breathed into this impressive venue. The 海角视频 hospitality sector is a vital part of our cultural fabric and we are acutely aware of the challenges the industry faces amid rising costs and supply chain constraints, so we remain committed to providing practical, market-facing advice to our clients to help navigate the months ahead.”
Read more:
- "Protect the economy, businesses and people's livelihoods" Welsh business leaders tell new PM Liz Truss
- The man in charge of Britain’s biggest energy port
- Wales' first exotic animal vet practice opens following six-figure backing
- Trading confidence in Wales tumbles as cost of doing business crisis takes hold
New coding academy launched to address FinTech skills gap in Wales