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$90M Hotel/Spa Finally Moves Ahead

PEAPACK-GLADSTONE, NJ-Sir Richard Branson's conversion of a vacant 40-room mansion has been in the works for five years.

By Eric Peterson | Updated on July 29, 2008

PEAPACK-GLADSTONE, NJ-Virgin Spa at Natirar has been in the works for half a decade, and finally appears ready to move forward. Actual construction won’t start just yet, with a couple of final permits still pending. But its developers have held a formal groundbreaking to promote the fact that they’re ready to go.

Those developers are Sir Richard Branson, who aims to make the hotel/spa part of the Virgin Limited Edition luxury hotel portfolio within his Virgin Hotels Group, and local businessman Robert Wojtowicz. The $90-million project will evolve in three phases, with the first slated to be ready in April.

Focal point of the project is Natirar, a 40-room mansion dating back to 1912. It was named Natirar by original owners the Ladd family, who reversed the spelling of the nearby Raritan River. The property was later owned by the late King Hassan II of Morocco, whose estate sold the mansion and its surrounding 450 acres to Somerset County in 2003 for $23 million. The county subsequently leased it to the developers for 99 years.

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