NEWBURY MANOR

LONDON ROAD | NEWBURY | RG14 2BY NEWBURY MANOR LONDON ROAD | NEWBURY | RG14 2BY

INTRODUCTION An attractive period hotel that is currently closed for trading, configured with 35 en-suite bedrooms set on a plot in excess of seven acres, with planning permission to increase to 50 letting bedrooms and a separate 5,500 sq ft restaurant space. The hotel is located in the town of Newbury around 90 minutes from London.

55 Baker Street London W1U 8AN Tel: +44 (0) 20 7629 8171 [email protected] www.knightfrankhotels.com

These particulars are intended only as a guide and must not be relied upon as statements of fact. Your attention is drawn to the Important Notice on the last page of the text. EXECUTIVE SUMMARY THE HOTEL BUSINESS DRIVERS Newbury Manor Hotel is located in the town of Newbury Situated in the centre of the south-east of England, on the edge of the Berkshire countryside. The property • Freehold period hotel. close to Heathrow airport and well served by occupies a site in excess of seven acres with excellent motorways, major roads and rail links, Newbury has potential for redevelopment and repositioning. The existing become one of the most prosperous residential and hotel is in need of full refurbishment but has historically • Huge scope offering the new owner the business communities. The flourishing local economy is traded well, attracting both corporate and leisure business opportunity to re-position the business. part of the expanding M4 corridor, which has many of throughout the year. its hi-tec, logistical, industrial and research businesses close to Newbury. • Currently configured as 35 en-suite letting bedrooms. Amongst others, the town is home to the headquarters of Vodafone UK and software company Micro Focus International who generate constant demand for hotels • Planning permission for an additional 15 in Newbury and who frequently contact the hotel about bedrooms taking the total bedroom stock to 50. taking rooms once it reopens.

Key leisure business drivers to the area are Newbury Separate cottage with planning permission to • Racecourse and North Wessex Downs AONB. The build 5,500 sq ft stand-alone restaurant unit. North Wessex Downs (AONB) racecourse hosts regular race days throughout the year and is one of the UK’s leading horse racing venues with • Leasing opportunity for restaurant to attendances of circa 190,000 within the season. North destination brand, Coppa Club. Wessex Downs AONB covers in excess of 1,700 square kilometres making it the third largest AONB in the UK and a year-round attraction for UK and overseas visitors. • Separate island bar/café building. In addition, the nearby Highclere Castle, setting of TV’s Downton Abbey, is an enormous draw for tourists and

• Full refurbishment and repositioning fans and is a considerable generator of business for Newbury Racecourse Highclere Castle View of the area surrounding Newbury Manor opportunity. local hotels.

Just off the main A4 artery road, and few minutes • Possibility to outsource all hotel food and from the M4, A34 and Newbury centre, yet nestling beverage to destination brand, Coppa Club. in its own idyllic grounds on the edge of the beautiful HOTEL TRADING FORECAST River Lambourn, Newbury Manor is ideally placed to 2020/21 2021/22 2022/23 (stabilised) serve both the local business community and the huge Bedrooms 50 50 50 • Extensive on site car parking. number of tourists, racing enthusiasts and weekend Turnover £1,595,000 £1,749,000 £1,853,000 breakers that frequent Newbury all year round. The above figures are net of VAT, comprised of a FMT forecast and represent a 12 month trading period.

4 5 A417 A429 OXFORD LOCATION A38 The hotel is situated on London Road two miles east of A48 CIRENCESTER A420 the town of Newbury. The property is located less than Cotswolds M40 AONB two miles from the centre of the town and 60 miles from River Severn M5 A34 London. A419 A420 Newbury is located towards the west of the county of A433 Berkshire and on the edge of the North A38Wessex Downs A429

AONB, offering some of south England’s most beautiful SWINDON A34 countryside. M4 North Wessex Accessibility is good with Newbury Railway Station Downs AONB providing frequent direct services to London PaddingtonM4 in A346 READING approximately 45 minutes. RoadBRISTO connectivityL is via the A339, CHIPPENHAM M4 NEWBURY MANOR NEWBURY MANOR A46 which passes through the town north to south and connects MARLBOROUGH M4 to Junction 13 of the M4, four miles away. NEWBURY A350 A37 BATH A39 Location Approximate Distance (miles) A33 Reading 16 A36 A339 A34 Basingstoke 17 A350 A348 BASINGSTOKE Swindon A39 28

Oxford A3728 ANDOVER M3 Southampton 40 A359 A303 : For identification purposes only. NOT TO SCALE A303 NOTE London 60 A303 A350 A34 THE OFFER The hotel is available freehold with vacant possession and should the new owner decide to concentrate on bedroom revenue only, then an agreement with destination brand, Coppa Club, to manage the hotel F&B could be available in conjunction with an agreement for lease for the new restaurant space to Coppa Club, should the new owner decide to build it.

6 7 THE PROPERTY THE HOTEL Set in over seven acres, Newbury Manor Hotel is a 19th The driveway approaches the main entrance of the hotel where the century Grade II Listed former mill house comprised of 35 reception is currently situated. There is a stairway straight ahead that leads en-suite bedrooms with planning consent for an additional to the first floor and a selection of bedrooms and public spaces currently 15 bedrooms and situated less than 10 minutes from configured on the ground floor. Newbury town centre. The majority of the bedrooms are located on the first floor with the The business is currently closed and the property requires remainder on the second floor. modernisation throughout and is being sold with the The island bar is directly opposite the main entrance to the hotel and opportunity to increase the bedroom stock by extending overlooks the weir and gardens and the riverside cottage is positioned the property along with creating a destination restaurant to the right hand side of the hotel and previously provided staff and wedding venue. accommodation. The main house has red brick elevations under a multi pitched tiled roof and is arranged over ground, first and second floors.

There is a thatched-roof island bar/café building that previously serviced events on the island.

The property also features a riverside cottage with planning permission to extend it to a 5,500 sq ft restaurant which has been identified as a target site for Coppa Club who have expressed interest in operating from the hotel.

Access to the hotel is directly off the car park at ground floor level to a reception area.

8 9 COPPA CLUB In addition to the expansion of the main on Thames, in 2015 has become a pillar hotel, planning permission has been of the local community. Building on the secured to create a stunning 5,500 sq ft success of Sonning, Coppa Club opened stand-alone riverside restaurant by way of next to London’s Tower Bridge in 2016, a a large extension of the existing riverside site famous for its award-winning “igloo” cottage. The locally popular Coppa Club dining pods, followed by equally well- Coppa Club Maidenhead Coppa Club Henley has agreed in principle to a long-term lease received sites in Henley and Maidenhead. of the restaurant and a formal agreement Streatley-on-Thames and Brighton Coppa to lease can be concluded as part of the Clubs opened in 2019, with Cobham purchase. planned for 2020, which would make Newbury the eighth site in the group.. Coppa Club is a highly successful all-day food and drink concept providing a third Coppa Clubs feature comfortable lounge space solution traditionally associated with a areas, wines and cocktails and a relaxed members’ club but without any membership set up for informal meetings and working fees, making it an ideal partner restaurant spaces in an award-winning high-quality for a hotel. The first Coppa Club opened in design-led environment. Coppa Club Streatley Coppa Club Sonning The Great House hotel In nearby Sonning

As part of the lease agreement, Coppa The benefit to an incoming purchaser of Club could also provide F&B services to having Coppa Club on board would be the all hotel weddings and events within the ability to focus purely on the hotel operation hotel function space. Coppa Club already whilst a proven operator handles all the runs successful hotel food and beverage F&B aspects. The strength of the Coppa operations from its Sonning site in Club brand would also provide additional partnership with The Great House hotel and business to the hotel, as the Great House at at The Swan at Streatley. Sonning and Swan at Streatley have proved.

Indicative restaurant returns:

Year 1 Year 2 Year 3

Restaurant Turnover £1,560,000 £1,924,000 £2,080,000

Rent Payable at 10% £156,000 £180,000 £180,000

Rent Payable at 15% - £6,200 £14,000

Coppa Club Streatley Coppa Club Sonning Total Rent £156,000 £186,200 £194,000

10 11 PLANNING Full planning permission has been granted

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new timber handrail + balustrade new timber handrail + balustrade to match sout west elevation to match sout west elevation

HOTEL - PROPOSED GROUND FLOOR NOTE: For identification purposes only. NOT TO SCALE NOTE: For identification purposes only. NOT TO SCALE HOTEL - PROPOSED FIRST FLOOR

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FENCE 2.0m High Acoustic Fence RESTAURANT - PROPOSED GROUND FLOOR HOTEL - PROPOSED SECOND FLOOR NOTE: For identification purposes only. NOT TO SCALE NOTE: For identification purposes only. NOT TO SCALE

14 15 drainage, electricityandwater. property isconnectedto mains gas, We havebeenverballyadvised thatthe SERVICES Agent, KnightFrankLLP. Upon applicationtothesoleSelling PRICE 01635 551111. to contactWest Berkshire Councilon we wouldadviseinterested parties rates payable.Forfurtherinformation The hoteliscurrently exemptfrom THE RATES October 2018at£15,000pa. West Berkshire DistrictCouncildated on a10yearlease(from 2018)from (taking totalspaceonsiteto123)held There isanadditional45spacecarpark Freehold. TENURE INFORMATION ADDITIONAL 16

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17 G 129 125 89 103 MOTORCYCLE SPACES 79 88 20 64 45 46 60 61 63 21 10 BYCICLESPACE 129 CARSPACES(INCL.4DISABLED PARKING AREA 4 MOTORCYCLESPACE RESTAURANT 80 ENTRANCE NEW RESTAURANT S S ) 55 FENCE 54 26 MOTORCYCLE 36 INITIAL APPLICATION SPACE OUTLINE OF FENCE 34 32 look atalistofmembers’names. office is55BakerStreet, LondonW1U8AN,where youmay England withregistered numberOC305934.Ourregistered Knight FrankLLPisalimitedliabilitypartnership registered in without notice. VAT: TheVAT positionrelating totheproperty maychange and thatallinformationiscorrect. other waysthatthesemattershavebeenproperly dealtwith obtained. Abuyerorlesseemustfindoutbyinspectionin planning, buildingregulations orotherconsenthasbeen any partoftheproperty does notmeanthatanynecessary Regulations etc:Anyreference toalterations,oruseof, Photographs dated:Various. measurements anddistances givenare approximate only. property astheyappeared atthetimetheywere taken.Areas, Photos etc:Thephotographsshowonlycertainpartsofthe Particulars dated:February2020. responsibility onthepart of theagents,seller(s)orlessor(s). and accordingly anyinformation givenisentirely without authority tomakeanyrepresentations abouttheproperty, its conditionorvalue.KnightFrankLLPdoesnothaveany (“information”) asbeingfactuallyaccurateabouttheproperty, Frank LLPintheparticularsorbyword ofmouthorinwriting nor partofone.You shouldnotrely onstatementsbyKnight Particulars: Theseparticularsare notanoffer orcontract, IMPORTANT NOTICE [email protected] Tel: +44(0)2078611088 Chris Field [email protected] Tel: +44(0)2078611097 Matthew Smith www.knightfrankhotels.com Tel: +44(0)2076298171 W1U 8AN London 55 BakerStreet Please contact: isstrictlybypriorappointment. Viewing