Local entrepreneur completes multi-million acquisition of boutique hotel in Leeds from administrators
A hotel in central Leeds has been acquired from administrators by entrepreneur Simon Pollard in a multi-million pound deal.
Gareth Harris and Keith Marshall of RSM Restructuring Advisory LLP were appointed joint administrators of Hotel Company 42 The Calls Limited on 9th February 2018, which trades as ‘42 The Calls’.
The administrators have now sold the hotel to Simon Pollard, a Leeds-based investor, who plans to redevelop the property to transform it into a 5-star hotel.
The boutique hotel was converted from an 18th century flour mill in the early 90s and has 18 permanent staff and 41 rooms. All staff will transfer to the purchaser and the hotel continues to trade.
Gareth Harris, RSM Restructuring Advisory partner and joint administrator, said: “We are delighted to announce the sale of the hotel to an investor who plans to restore it to its full former glory through a detailed plan of investment – which is great news for the business; its staff; and the wider hospitality sector in Leeds.
“42 The Calls was one of the first boutique hotels in Leeds and the plans announced by Simon Pollard should restore it to its 5 star status.”
National law firm Shoosmiths advised Simon on the multi-million pound acquisition.
Simon said: “I am extremely excited about the future and huge potential of this hotel and look forward to creating something special in support of our long-standing customers. I am of firm belief that I have the ability to reset the vision while reigniting the fundamental, core values of 42 The Calls Hotel.”
“I plan to transform and redevelop 42 The Calls into breathtaking accommodation that will take the hotel back to its roots of being in the Premier League. Embracing the 18th century converted corn mill’s unique setting, provenance and potential, I will promote 42 The Calls hotel into a luxury experience for the people of Leeds to enjoy.
“I believe my track record, drive and continuous enthusiasm will put it firmly back on the map as the best luxury hotel in Leeds.”
The Shoosmiths team was led by corporate partner Philip Goldsborough, together with corporate colleagues Simon Procter and Sophie Davies and real estate partner Richard Bellamy.
Philip said: “We are delighted to have worked with Simon and his team on this transaction. Simon has an exciting vision for 42 The Calls and we wish him every success with the redevelopment and in delivering a top class luxury destination to Leeds.”
The joint administrators have been advised on this transaction by Shakespeare Martineau (Andrew Taylor and colleagues) and Sanderson Weatherall (Ian Naylor and colleagues).