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Higgs & Sons advise on flagship hotel deal
Article date: 17/03/2017
Expert advisors from law firm Higgs & Sons have helped Talash Hotel Group add a Grade-I listed hotel to its portfolio.
Stoke Rochford Hall, near Grantham, Lincolnshire, will now undergo extensive refurbishments - including the addition of 50 luxury bedrooms and refurbishment of the existing 96 - with plans to turn it from a 3-star to a 4-star venue.
Set in a 1,000 acre parkland of idyllic countryside, Stoke Rochford Hall had been the National Union of Teachers' conference and training centre since 1978.
Richard Saxton, a partner in the commercial property team at Higgs assisted by Andrew Stokes, Damian Beard from the corporate team and Simon Bond a partner in the employment team at Higgs, helped Talash Hotels negotiate the successful deal for an undisclosed sum.
Richard Saxton said: "Our commercial property, employment and corporate teams worked really hard to deliver this complicated project, and we were delighted to successfully conclude this very prestigious deal for Talash Hotels.
"The Talash Hotels Group is going from strength to strength and we're delighted to be able to assist them in their growth."
Talash Hotels Group is owned by brothers Ravi and Sanjay Kathuria. The deal takes them to nine luxury hotels across the Midlands including Risley Hall Hotel & Spa in Derbyshire, Chimney House Hotel in Cheshire, Best Western Barons Court Hotel in Walsall, Best Western Falstaff Hotel in Leamington Spa, The Allesley Hotel in Coventry, Honiley Court Hotel in Warwick, The Quorn Country Hotel in Leicestershire and the Huntly Arms Hotel in Aboyne.
The company's forward plan is to own 20 hotels by 2020.
Sanjay Kathuria, managing director of Talash Hotels, said: "Our plan is to put Stoke Rochford Hall firmly on the map as a destination venue for luxurious breaks, weddings, conferences and other events.
"Renovation works are already getting underway and we plan to make the interiors much more luxurious and improve the standard of service provided. We know that there is a great deal that can be done commercially to grow the business and we are looking forward to being able to show off the hotel to its true potential.
"Once again we are delighted with the service provided by Richard, Damian, Simon and Andrew at Higgs & Sons working to tight timescales. I have used some of the most premier law firms in London, and Higgs are as good if not better."
Funding for the purchase was provided by The Royal Bank of Scotland Plc.
The current hall dates from 1843 when it was built for Christopher Turnor. The hall was damaged by fire in 2005 and restored by English Heritage at a cost of £12 million.