By Hayley Robinson

The owner of a B&B next door to the Coniston Hotel fears a budget accommodation chain will take over the venue after it went into administration.

Duncan Wetherall, who runs Beaumont B&B in London Road, Sittingbourne, says he was looking forward to the Coniston re-opening as a four-star venue after being closed for eight years.

But he is now concerned for the future of his business after the Sittingbourne Messenger revealed last week that NatWest Bank's support for the project was withdrawn following a re-evaluation of its value.

Mr Wetherall, who has run the business with his mother for 20 years, said: "I wouldn't want to see it sold off to a budget hotel chain as it would damage my business.

"They would be similar prices to me and have special offers. Although the Coniston Hotel would have been a direct competitor to my own business, the new owners were aiming at the higher end of the market to me and I did not consider the new hotel a threat to my livelihood.

"I thought that it would actually help my business as we would have had a nice new bar and restaurant next door to us for my guests to use if they wanted and the new smart building had lifted the appearance of the area."

The hotel was due to open several weeks ago after an £8m revamp but on Tuesday last week, staff were told it would not be opening and they were losing their jobs.

As well as eight suites and 69 rooms, it was to have a large restaurant, private dining area, and ballroom with theatre-style seating for up to 300 people.

Owners Chris Richardson and Ernie Berntsen, who bought the property in 2006, said extra funds were needed to complete the project but before this could happen, the revalutation was ordered and it came out lower than one at the beginning of the year.

A spokesman for the administrators BDO said: "We are still seeking a buyer and are liaising with interested parties."