Local businessman Jonathan Pass finalised the purchase of Kelham Hall and Country Park for £4 million.
He first took over the lease for the ground floor and catering of the hall in March 2013 before bidding for the property.
He successfully bid for the purchase of Kelham Hall in 2014 and finally completed the purchase on December 1, 2017.
Kelham Hall was owned by Newark and Sherwood District Council until late 2017 when it moved operations to Castle House on Great North Road, Newark.
Jonathan Pass is now investing substantial sums into redeveloping Kelham Hall into a venue for Asian, ethnic and traditional weddings, conferences, proms and balls.
Work has also started on the Thompson Wing to create a business centre with serviced offices, modern reception, a gym and meeting rooms.
A masterplan for the hall, designed by Sir George Gilbert Scott, has been produced by local architects Guy Taylor Associates.
The project was recently approved and development will begin shortly with creation of a new entrance drive and landscaping.
Three distinct styles of hotel accommodation have been designed for the Gilbert Scott, Salvin and Thompson wings and work will commence in the next few months.
Other plans for next year include a boutique hotel within the Gilbert Scott Wing and further development the state rooms for conferences, private dinning, meetings and events.
Jonathan Pass said: “I am delighted to have secured the purchase of the hall and grounds which has the potential to be one of the most exciting visitor attractions in the East Midlands.”
The local businessman also has a lease and runs Charlotte House Hotel situated within The Lawn complex behind Lincoln Castle. He unsuccessfully bid in 2013 to purchase The Lawn and adjacent buildings to turn them into a hotel and conference centre. The bid was won in 2016 by Stokes Coffee.
Jonathan Pass and his company JPC Properties also own Nent Hall Hotel in Cumbria.