Flat Cap Hotels has announced plans to open a second hotel in Knutsford, Cheshire, and launched a crowdfunding campaign to fund its growth.
The company has acquired the town's former Grade II-listed Crown Court building, which dates back to 1811, and intends to transform it into the 60-bedroom Courthouse hotel with 150-cover restaurant and function space for 550 guests. Cash for the work will be raised via the crowdfuning campaign, operated by online investment site Seedrs. Flat Cap Hotels has a target to raise £250,000 in six weeks.
Ten of the bedrooms will be located in the property's two existing wings , with an additional 50 rooms added in 2017.
The hotel group was established by third generation hoteliers Oliver and Dominic Heywood with the launch of the 20-bedroom Vicarage Freehouse & Rooms in Holmes Chapel, Cheshire. It plans to acquire five properties by 2019 with targeted areas including Shropshire, Gloucestershire and Oxfordshire.
The money-raising campaign went live on 25 July and will run for 60 days (seedrs.com/flatcaphotels).
So far the group has raised £23,700 of its £250,000 target.
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