Originally built in 1890s as the headquarters for Durham County Council, the property will be converted into an 81-bedroom four-star Hotel Indigo – the boutique brand from InterContinental Hotels Group (IHG) – and is expected to open in Autumn 2017.
Retaining period features such as its grand tiled marble staircases, wood panelling and stained glass windows, the hotel will also feature a 150-cover Marco Pierre White Steakhouse Bar & Grill and cocktail bar.
The hotel has been purchased by private equity and property fund management company Maven Capital Partners from local businessman Kevin Brown. Brown will work alongside business partner and experienced developer Shaun Crawley to lead the refurbishment of the property.
Ramsay Duff, investment director at Maven, said: “Maven is delighted to be involved in this prestigious project, bringing such a magnificent building back into use and allowing us to further develop our relationships with IHG and the hotel Indigo brand, Interstate and MPW.
“We anticipate that the Hotel Indigo at the historic Shire Hall will not only become a ‘must visit’ destination, but also address the demand that exists in the city for more high-quality hotel accommodation.”
Brown added: “It’s taken just over a year to find the right buyer and broker the deal. From the outset it has been vital to find the right partners to produce an outstanding hotel for the city and equally as important, to secure Shire Hall’s future and prevent any further deterioration and damage to the building.
The property will be managed by hotel management company Interstate Hotels and Resorts.