Opportunity to Invest in Landmark Crieff Hotel
Residents of Crieff and beyond will have an opportunity to invest and become a shareholder in The Monzie Hotel. The Monzie, the new name for Old South Church in Crieff, will be transformed into an exclusive use hotel with the help of crowd funding website www.crowdcube.com.
John Burke, Managing Director and founder of The Monzie commented “we have been overwhelmed by the interest from the local community regarding the transformation of Old South Church into a hotel and we wanted to offer everyone a chance to invest in the project via crowdcube.com. We are aiming to raise £1 million investment for a 20% equity stake in The Monzie Hotel Ltd (owners of the hotel) with investment opportunities starting at £100. All investors will receive a 7% return on their initial investment and a range of ‘investor rewards’ which vary from an invitation to the grand opening party and discounts on bookings to an exclusive use 5 star weekend for 24 guests, depending on the level of investment.”
Old South Church was originally constructed in 1882 and designed by architect JJ Stevenson in a Scots Gothic style with a 3 stage tower and the spire based on Dunblane Cathedral, over the next 50 years the building was added to, with the Church closing in the 1990's. Latterly, the building was used as an Antique Gallery which closed in 2006. Since then, the building has been classified “At Risk” by Historic Scotland, as it had been allowed to deteriorate with many locals fearing it would be left to rack and ruin.
John Burke, bought Old South Church in 2012, determined to save this local historic structure and commissioned a feasibility study on the prospect of renovating the Church into a boutique hotel. As an A Listed building the architectural and build team worked closely on plans to preserve and restore the Church facade and interior. Planning was granted in 2013 for a 12 bedroom hotel with a banqueting/function space for 100 guests. After renovations are complete it is hoped the hotel will open Spring 2016 for exclusive use and wedding parties.
Building work for the hotel will be carried out by Corryard, of which John Burke is also Managing Director and founder. Multi award winning Corryard are well known locally for the sensitive redevelopment of Locherlour Mill, an unused local mill which was renovated into luxury self catering holiday accommodation and won the Federation of Master Builders Award for Best Large Renovation in the UK in 2010. More recently the company were awarded 2013 Scottish Home Awards - Conversion of the Year and 2013 Herald Property Awards 2013- Renovation of the Year for the renovation and conversion of Wester Deuglie Farm House.
For further details of the investment opportunity log on to www.themonzie.com or email john@corryard.com.
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