Auction of The Rutland Arms, in High Street, Newmarket, which had guide price of £1.75m delayed
The auction of an iconic town centre hotel, which had a guide price of £1.75m, has been postponed.
The Rutland Arms Hotel, in High Street, Newmarket, was set to go under the hammer with Allsop’s last Thursday (December 14), but has now been delayed until the new year.
Currently owned by Review Hotels Ltd, the delay will give extra time for additional detailed information to be shared with potential bidders about the property.
The 17th century coaching inn consists of 46-bedrooms but has planning permission for an additional 26 ensuite rooms and off-street parking.
Noel Byrne, the hotel’s managing director, 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.”
The Rutland Arms also has conferencing and event facilities with space for 60 people, as well as having several period features.
It dates back to 1815 when John Henry Manners, the fifth Duke of Rutland, commissioned builder John Kent to build the hotel on the site of the former Ram Inn, which itself dated back to the 17th century.