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property developer who invested $4.3 million in renovating a historic Grade II-listed hotel is now selling it for just $1. Na'im Payman purchased The Royal Hotel in Kettering, Northants., in December 2020 for $3 million and spent an additional $1.4 million on renovations.

    The hotel has hosted notable figures such as Queen Victoria and Charles Dickens during its 147-year history. It features a grand ballroom, billiard room with a stunning glass dome, former bar, and multiple function spaces. However, potential buyers are warned that it will cost at least another $1.4 million to complete the project.

    Payman has run out of funding to turn the complex into a wedding venue, restaurant, nightclub, and café. He had hoped to restore the hotel's legacy and revitalize Kettering's town centre but was unable to secure remaining funds after an investor pulled out. The property developer is now selling the hotel with no reserve.

    The 43-bedroom hotel has a rich history, including being rebuilt in the Jacobean style in 1878 by the Duke of Buccleuch. It has also been used as a home for migrants and hosted Charles Dickens in 1835 while he covered the Northamptonshire elections. The hotel's name changed in 1844 after Queen Victoria stopped in room 12 on her way to Stamford.

    Estate agents Howsold describe the property as "a truly unique opportunity to acquire and re-imagine one of Kettering's most iconic buildings." The auction takes place on July 31, and offers can be made at https://auctions.howsold.uk/lot/details/153011.