Review Hotels has put the Rutland Arms Hotel on Newmarket High Street in Suffolk up for sale.
The Grade II listed building dates back to the 17th century and recently operated as a 46-bedroom hotel with a restaurant, bar and event space.
The hotel has planing consent for redevelopment into a 72-bedroom boutique hotel featuring four meeting rooms, a 140-seat restaurant, open-plan bar with private lounges, a commercial kitchen, offices, staff facilities and a 17-space car park.
Alexander Smith, surveyor at Cheffins, which is handling the sale alongside joint agents Christie & Co, said: “This is a rare chance to acquire an historic landmark in a prime position at the heart of Newmarket. With full planning permission already secured, it presents an exceptional opportunity for a hotel operator to breathe new life into an iconic building in the world’s horse racing capital. The Rutland Arms is perfectly placed to welcome visitors, particularly during the busy racing season, and also offers potential for residential or commercial use (subject to planning).
“With the interior fully stripped back, a new owner can begin fit out and refurbishment immediately. I expect strong interest from hotel operators worldwide, as the property offers the chance to fill a clear gap in the market for an upscale hotel in the centre of the town. It may also be of interest for local investors or those involved in the horse racing industry.”
