It is estimated that the redevelopment would deliver the equivalent of 71 additional jobs in Perth, with 55 in the hotel itself; 122 construction jobs locally; £1.12m a year of direct expenditure; and £1m a year of additional Gross Value Added (GVA).
The building is currently surplus to the council’s requirements for office space and will require significant investment by Henley Homes to develop a boutique hotel and additional grant funding up to £1.9m, permissible under grant aid, to restore the listed building facade.
Nassar Khalil, director of hotels and leisure at Henley Homes and CEO of RCHG, said: “We are very pleased to have been chosen as preferred bidder for 1-5 High Street, a fantastic location in the heart of Perth, one of Scotland’s most enchanting cities and its original capital.
“As with all our hotels, our goals are to provide guests with design-led luxury accommodation, with exceptional service, comfort and convenience, and to form a special relationship with the local area. These values sum up the key attributes of a RCHG hotel. We very much look forward to working with Perth and Kinross council on this unique project.”