Westwood chips in with Rory on €35m hotel deal
Published 16/03/2014 | 02:30
Republic of Ireland and Sunderland FC goalkeeper Keiren Westwood has emerged as an investor in a €35m Birmingham hotel scheme, which has also been backed by golfer Rory McIlroy and multiple Olympic gold winner Sir Steve Redgrave.
Westwood is part of the Park Regis Birmingham LLP, which bought, redeveloped and plans to let Auchinleck House in Birmingham as a hotel. The limited partnership raised funds from investors including Westwood and McIlroy to enter a fixed-price contract to redevelop the building. The group also borrowed €35m from the Staywell Hospitality Group to finance the scheme.
Demolition work on the building, which sits on top of a shopping centre, began late last year. Sydney-based StayWell Group and its investment arm Seven Capital are leading the project. The run-down office block, built in 1962, is to be converted into a 300-bed Park Regis Hotel as part of the tax-driven scheme.
Sunday Indo Business