Scotland: Henley Homes Group is proposing to transform 1-5 High Street into a boutique hotel via its Rogue City Hotel Group (RCHG) brand.
Perth and Kinross Council has confirmed Henley Homes Group as the preferred bidder for the former offices at 1-5 High Street. While the decision isn’t binding, it will allow for negotiations to get underway.
It is estimated the project will create over 70 jobs after the revamp, and more than 100 jobs during the construction.
The council claims the project will “secure the future of this historic property and boost the local economy at a time when investment in the city and creation of jobs to recover from the global pandemic is critical”.
According to The Courier, Henley Homes Group could purchase the building for just £1 with the council footing the £1.9 million in heritage funding to upgrade the property and maintain its historic features.
The council is said to have cut the price offer to help draw in investors, as it is wanting to save the £143,000 in annual running costs of the building.
A council spokesperson said: “The overall cost of the development will be excess of £7 million and without grant support to contribute to the restoration of key heritage features, the project is not financially viable. To finance the conservation grant of up to a maximum of £1.9 million, the council proposes to borrow from the Public Works Loan Board with the borrowing costs met from savings made through not having to operate the building.”
Nassar Khalil, director of hotels and leisure at Henley Homes and CEO of RCHG, said: “We are very pleased to have been chosen as preferred bidder for 1-5 High Street, a fantastic location in the heart of Perth, one of Scotland’s most enchanting cities and its original capital. As with all our hotels, our goals are to provide guests with design-led luxury accommodation, with exceptional service, comfort and convenience, and to form a special relationship with the local area.”
Rogue City Hotel Group has developed the five star Dunalastair Hotel Suites at Kinloch Rannoch in Perthshire, and is currently working on The Wellington in Glasgow and The Hobson in Cambridge.
