Allsop postpones Rutland Arms Hotel auction until new year
Review Hotels acquired the Rutland Arms Hotel in 2018 and the team began extensive planning to restore the historic property
UK property consultancy Allsop has postponed the auction of Newmarket’s Rutland Arms Hotel until the new year.
The auction of the site, which is currently owned by Review Hotels, is “likely to be rescheduled for some time in the new year which will allow ample time for additional detailed information to be shared with potential bidders”.
The 17th Century coaching inn features 46 rooms and is situated on the main Newmarket shopping street. It also has planning permission for an additional 26 ensuite rooms and off-street parking. In addition, there are also conference and event facilities for up to 60 delegates.
Review Hotels said the Rutland Arms Hotel features “character and charm”, with many original period features as well as modern facilities. Its Nell Gwynn bar and Carriages Wine Bar and Restaurant were previously popular for both local residents and visitors further afield.
The site also has good road access to Cambridge, which is 14 miles away, and the cathedral at Ely, which is 13 miles away.
The Rutland Arms’ history begins in 1815, when John Henry Manners, the fifth Duke of Rutland, commissioned John Kent, a Wantage-based builder to build the hotel on the site of the former Ram Inn, which dated back to the 17th Century.
Review Hotels acquired the Rutland Arms Hotel in 2018 and the team began extensive planning to restore the historic property. However, its team has been “faced with numerous challenges” which included navigating complex planning requirements and encountering delays in obtaining necessary approvals.
It said the “unfortunate timing of the pandemic further compounded difficulties, and regrettably, despite sincere efforts and aspirations to contribute to the enhancement of Newmarket’s High Street, the vision has sadly not been possible”.
The hotel’s managing director, Noel Byrne, said: “Given the property’s rich 400-year history, there’s a wealth of important information to compile, adding character and value to its sale.
“Our priority is to equip potential buyers with everything necessary for the enduring success of this iconic building and its integral role in Newmarket’s development. The decision to delay the auction has enabled us to meticulously source and compile all the details essential to make this endeavour a resounding success.”
