Business Irish

Friday 22 August 2014

Westwood chips in with Rory on €35m hotel deal

Nick Webb

Published 16/03/2014 | 02:30

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Keiren Westwood

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.

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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.

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