Complex sentence: As a result, Anderson received a £1000 bond from Hancock Brewers, in exchange for promising to sell their product, which enabled construction of the new hotel building (later renamed the Imperial Hotel) in 1883.
Split into simpler sentences: As a result, Anderson received a £1000 bond from Hancock Brewers, in exchange for promising to sell their product. This enabled construction of the new hotel building, and the hotel was renamed the Imperial Hotel in 1883.