UK: Flat Cap Hotels has teamed up with Seedrs to seek funding for a boutique hotel project in Cheshire.
The company, which was founded in 2015 by brothers Oliver and Dominic Heywood, has bought the former Crown Court in Knutsford, which closed in 2010, and has submitted a planning application for a change of use. Flat Cap Hotels plans to convert The Courthouse into “a unique venue with a 150 cover restaurant and bar, and a converted court room with a 550 guest capacity for conferences, weddings and events”. The two existing wings will be converted into 10 bedrooms and 2017 will see the construction of 50 more bedrooms.
In a statement on their Seedrs crowdfunding campaign, the brothers said: “We feel we have in-depth experience in restoring and maintaining assets with historical features and listed structures whilst creating successful operational businesses. The upkeep and maintenance of each property is incorporated into our business plan and the required capital expenditure strategy. Our two establishments (The Courthouse opening soon) serve locally sourced British seasonal menus in property with bespoke décor and furnishings created by us with a ‘home away from home’ atmosphere.”
The brothers are offering eight per cent equity in the project for £250,000, with investors required to give a minimum of just £50. At the time of writing, £23,700 had been raised. In addition to equity, Flat Cap Hotels is offering rewards, ranging from overnight stays to private parties with full catering for up to 300 guests in the Court Room. If the campaign doesn’t reach its goal, investors will be refunded.
Flat Cap Hotels currently operates The Vicarage, a refurbished 17th Century Grade II listed country pub and hotel in Holmes Chapel.