Durham's Grade II-listed Shire Hall is to become a Hotel Indigo following a £15m deal to sell and refurbish it.
Property developer Kevin Brown, who bought the building in 2014 and secured planning permission for its redevelopment, will work alongside Shaun Crawley through their joint venture Elvet Developments Ltd (EDL) to lead the renovation and refurbishment on behalf of private equity and property fund manager Maven Capital Partners.
Shire Hall was built in 1896 as the headquarters for Durham County Council. It will now be renovated into a InterContinental Hotel Group's (IHG) boutique Hotel Indigo brand, with a 150-cover Marco Pierre White (MPW) Steakhouse Bar & Grill.
The conversion will create an 81-bedroom, four-star hotel and is set to generate up to 60 new jobs in the city.
The hotel will be managed by Interstate Hotels and Resorts.
Durham-based architects Howarth Litchfield as lead designer on the project.
Developer Kevin Brown said: "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."
A fine example of late Victorian architecture, the property boasts a number of period features such as tiled marble staircases, wood panelling and stained glass windows, all of which will be retained. The circular debating chamber and lobby room will also be retained, providing the setting for a cocktail bar and the MPW restaurant.
The refurbishment of Shire Hall is expected to take 15 months, with the hotel being scheduled to open in the autumn of 2017.
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."
Nick Taplin, chief executive at Black & White Hospitality, which owns the franchise rights to MPW Steakhouse Bar & Grill, said: "This is our third development with Maven Capital after Glasgow and Cardiff and we're delighted to be continuing a very strong business relationship together."
Angela Brav interview: IHG hotels pledge to ‘up their game' in food and beverage >>
Interstate Europe adds Hilton Swindon to UK portfolio >>
Hotel Indigo Liverpool appoints new general manager and head chef >>
Latest video from The Caterer