Newmarket’s iconic Rutland Arms hotel looks to have been sold

An iconic hotel in a Suffolk town looks to have been sold.

Noel Byrne, managing director of the Rutland Arms Hotel in Newmarket confirmed its owner Review Hotels Ltd, had accepted an offer on the 400-year-old property but said he could not comment further at this stage.

The hotel had been due to go under the auctioneer’s hammer in December, with a guide price of £1.75million, but was withdrawn on the day of the sale so additional detailed information about the property to be provided to potential bidders.

The 17th century coaching inn consists of 46-bedrooms but has planning permission for an additional 26 ensuite rooms and off-street parking.

Review Hotels Ltd bought the hotel n 2018 and began extensive planning to restore it to its former glory and update its facilities by building a new extension to replace the dated rooms block opposite the hotel in Palace Street.

It was originally hoped the hotel and new extension would be open by December 2021 but the plan stalled as members of West Suffolk Council’s legal team failed to sort out legally binding covenants on part of the land at the rear of the nearby TKMaxx store which was needed for the extension and the owners were kept waiting for necessary approvals, a delay which cost them millions of pounds.

In June 2022 the hotel’s owners issued a statement which said due to the significant delays the financial backers of the project no longer had the ability to see the project through and had been left with no option than to look for new investors to take the project forward. It has been on the market since then.