Indigo Hotel, Durham

Sector Property
Deal Type BPRA
Initial Investment April 2016
Transaction size £15m
Location Durham
Maven Office Glasgow
Mcp shire hall logo june 2017 01 logo

In April 2016 Maven completed a £15 million transaction for the purchase and refurbishment of the Grade II listed Shire Hall in Durham, for conversion into an 81-bedroomed 4-star boutique hotel. 

Changes to the areas that qualify for Business Premises Renovation Allowance in 2014 saw Durham included for the first time. The refurbishment of Shire Hall qualifies for Business Premises Renovation Allowance (BPRA) by bringing an empty commercial property back into use, helping stimulate local economic regeneration and creating employment.  
Originally built in 1890s as the headquarters for Durham County Council, Shire Hall will be sympathetically renovated into a Hotel Indigo, the up-market, boutique brand of InterContinental Hotels Group (IHG), with a 150-cover Marco Pierre White (MPW) Steakhouse Bar & Grill.

The property boasts a number of impressive period features such as the grand tiled marble staircases, wood panelling and stained glass windows that will be retained and form the basis for the 81 en-suite bedrooms. The circular debating chamber and lobby room will also be retained, providing an iconic setting for a cocktail bar and the MPW restaurant. 

Interested in property investment through Maven? Get in touch with one of our investment team today.
Email us