Property
2016: No.26= - £145m
2015: No.24 - £145m
Birmingham’s Grand Hotel is finally set to be restored to its former glory after a £6 million funding boost was secured. The Greater Birmingham and Solihull Local Enterprise Partnership and Birmingham City Council have agreed to provide grant support to the Horton’s Estate project to restore the Colmore Row hotel.
The façade of the hotel is being restored and the hotel’s interior renovated, with office space being created. Shops which form part of the hotel’s frontage are also being refurbished, along with a restaurant which will spill out onto the pavement.
The Alchemist exclusive bar plans to open its first venue in Birmingham in the development, and it will be joined by Italian restaurant Gusto.
Ten shops will front the scheme, and the office space is now being marketed. One of the most ambitious phases of the project was the craning in of a new steel roof to replace the 1875 timber original. Work on the hotel revealed fine sandstone detail around the building which was previously not known to exist.
But the Grand Hotel is not the only project being looked after by Horton Estates, which is run by Peter Horton, aged 46, who was confirmed as chairman of the group in May, replacing Richard Samuda. The company is also developing a £5 million out-of-town shopping on land beside the M6 Toll at Cannock, creating more than 60 jobs. The land was bought by Hortons and Trebor Developments from Staffordshire County Council.
In the city centre– which is where Hortons has been based for more than 100 years – the company is welcoming tenants to its Cathedral Court building at 15 Colmore Row where an extensive upgrade and restoration has taken place. The offices are currently occupied by accountancy firm Dains.
Elsewhere, supply chain specialist Wincanton is signed up to Horton’s Estates’ Marchington Industrial Estate in Staffordshire. The estate is made up of 1.3 million sq ft of industrial and warehousing space in 34 buildings.
The Hagley Road Retail Park, which was acquired by Hortons in September 2010, is fully let. In addition, Hortons has been expanding operations for China’s biggest lighting manufacturer – NVC Manufacturing – on its site at Hollymoor Point. The company has assets of nearly £116 million. It made an £7.3 million profit on £16.8 million sales in the year to September 2014.
Peter Horton’s father, 74 year-old Michael Horton, stepped down as chairman in 2008 after seven years in the post and 44 years as a director. He now runs the award-winning Cotswold Inns and Hotels with his wife Pamela.
Michael Horton’s great, great grandfather Isaac – a pig farmer and butcher from Lichfield – began the company in 1871 when he acquired the Midland Hotel in Birmingham – which is now the Macdonald Burlington – and set about developing it.
He also built the Grand Hotel and by the time of his death in 1880 had established a substantial property business.
Since then Hortons Estate has become one of the Midlands most prominent family-owned property companies.
Isaac is buried at Key Hill Cemetery in the Jewellery Quarter.
Hortons and its staff are supporters of a number of worthy causes, and raise money for Birmingham Children’s Hospital among other charities. Hortons is also an enthusiastic supporter of the arts and music.
