After a change of ownership it was renamed The Rilton Hotel. Its future began to look uncertain when it closed at the end of 2004 and was badly vandalised by squatters and arsonists. The site was acquired by Fernbrook Builders in 2006.

Aragon entered into contract with local builders Fernbrook to refurbish the existing hotel, converting it into 17 apartments available for Shared Ownership, providing a great opportunity for first time buyers in Rushden. The hotel has been restored to a high standard and has maintained many of its original features. The QVH show flat and a successful open day has led to the sale of a number of these units.

Neighbouring this, a new block of 22 apartments has been built which provide much need rented accommodation in the centre of Rushden. The newly built block is in keeping with the refurbished hotel, and mirrors many of its design features. Housing Corporation funding enabled this provision of rented units.