Macdonald Haycock Hotel on the Market for £1.4m

Location: Wansford, Peterborough, Cambridgeshire, UK

Name: Macdonald Haycock Hotel

No. of Keys: 48

The Property: The three-AA-starred Haycock hotel in Wansford has been put on the market for £1.4m by owner Judith Carter.

The Grade II-listed, 48-bedroom property in Cambridgeshire has been owned by Carter since 2003 and under the management of Macdonald Hotels & Resorts since 2012.

Carter said: “I’ve had the hotel for many years now and have decided to sell in order to concentrate on other things but also to have a quieter life!”

Set within nearly 10 acres of grounds and gardens on the River Nene, the hotel comprises a 16th century former coaching inn, which has been sympathetically extended and refurbished over the years, numerous bar and dining areas, and a business centre with a 300-cover function room and various meeting rooms.

Tim Gooding, director at Christie & Co’s Ipswich office is handling the sale. He said: “The Haycock is one of the best known hotels throughout the region – its iconic status, history and scale will undoubtedly attract interest from across the market, whether private or mid-market operators or private investors looking for a flagship operation.”

Christie & Co is seeking an asking price of £1.4m for the long leasehold interest.

Main Photo: The Macdonald Haycock

Tenure: Long leasehold

Brand/Management: Brand free, or buyer can extend the Macdonald agreement

Yield/Financial: Previous/Current year trading figures available on signing of NDA/LOI

Guide Price: £1.4m

Guide Price per Key: £29,166

Date Posted: June 2019

First Seen: The Caterer

Agent: Christie & Co

THPT Comment: Macdonald seem to be playing a double game…talk about the whole UK chain up for sale for £400m, whilst individual hotels have been sold off…

In recent years the company sold the Macdonald Swan’s Nest hotel in Stratford-upon-Avon, Warwickshire in May 2016 to Asian-based investment fund CL Capital, following the previous year’s sales of the Macdonald Old England hotel in Windermere, Cumbria and the Macdonald Marine hotel in North Berwick, East Lothian. The loss of trade from those three hotels has reduced overall group turnover by £8m to £154.2m and operating profits by £3m compared with 2015/16.

Coupled with redundancies, with jobs disappearing in marketing, conferencing, IT, accounting and payroll departments at the company’s head office in Bathgate, West Lothian.

In the most recent accounts for Macdonald Hotels lodged at Companies House, pre-tax profit plunged by 91% from £62.3m to £5.6m, while turnover dropped by £8m to £154.2m for the year to 30 March 2017.

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This is a new feature on the THPT site…. Hotel owners can be naturally reticent in publicising their hotel is for sale…for confidentiality reasons, for staff and current client reasons, so the hotels featured in this section will either be “generic” or “name specific”

 

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