25 C
Tuesday, September 29, 2020
- Advertisement -

Nigerian Billionaire Buys Iconic Morecambe Hotel


What Manner of Olive Branch? By John Mayaki

Happy times are here for Godwin Obaseki, who rode into victory, courtesy of his Rivers State counterpart and comrade-in-electoral sleight of hand,...

Between ‘Dividers-in-Chief and Dividers-in-Law’ By Wole Soyinka

I am notoriously no fan of Olusegun Obasanjo, General, twice former president and co-architect with other past leaders of the crumbling edifice...

Putting our Money Where Our Mouth Is – By Femi Adesina

There is a story that President Muhammadu Buhari likes to tell. He has done so many times in public and private meetings....

El-Rufai and the next Emir of Zazzau By Aliyu Tilde

The last colonial Governor of Northern Nigeria, Sir Bryan Sharwood Smith, was the District Officer (D.O.) of Zaria when the Emir of...

Chinedu Ochinanwata’s Statement Hotel Limited, has entered the United Kingdom’s hospitality market with the acquisition of the twenty-nine room Clarendon Hotel in Morecambe, Lancashire. Mr Ochinwata is the owner of one of Enugu’s top hotels, the Golden Royale.

The Statement Hotel Limited, incorporated at Companies House in March 2018, bought the Clarendon for an undisclosed cash figure off a guide price of £725,000 (Around N300,000) and plans to turn the property into “a destination hotel with world-class standards”. Ochinwata says his UK company was attracted to the Morecambe, partly due to current proposals to develop the multimillion-pound Eden Project North in the seaside town.

The Clarendon, which was used as RAF headquarters during World War Two, was part of a portfolio of nine pubs and two hotels purchased by Provincial Hotels and Inns, operated by management firm Onecall Hospitality. Mitchells of Lancaster, which is now in administration, sold the hotel to Burton-in-Kendal based Provincial Hotels and Inns in 2016.

The Clarendon includes The Waterfront restaurant and Davy Jones Locker.

Nonso Ochinanwata of the Statement Hotel, said the acquisition of the property marked the company’s intention to build “a broader investment portfolio” in the UK.

“We targeted Morecambe as a location for various reasons, however, the proposals for the new Eden project, a venue intended to draw 500,000 to a million visitors every year, was a key factor.

“Now the transaction has completed we will be focussing our attention on transforming the Clarendon into a destination hotel with world-class standards.”

The deal was brokered by property company Fleurets.

- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisement -

Business Profiles

Okechukwu Ohanta

Okechukwu Ohanta is the Sub-Surface Manager at Tenoil Petroleum and Energy Services. Mr Ohanta is responsible for the company's subsurface studies, formation...

Chukwunonye Emenalo

Chukwunonye Emenalo is a lecturer of financial management at Lagos Business School. His teaching interests are in financial management/corporate finance. His research...

Oyewale Ariyibi

Oyewale Ariyibi is the Chief Financial Officer at FBN Holdings Plc. Before this appointment, he was Chief Finance Officer at Transnational Corporation...

Dada Awosika

Dada Awosika is the Managing Partner of D.A Awosika & Partners LLP. He started his Legal Practice in 1996 at the law...

Olamide Edun

Olamide joined Lion’s Head Global Partners in 2017 and is a member of the African Local Currency Bond Fund team, focussed on...