PRESTED HALL PRESTED HALL CHASE, FEERING, COLCHESTER, ESSEX CO5 9EE

PRESTED HALL PRESTED HALL CHASE, FEERING, COLCHESTER, ESSEX CO5 9EE

EXECUTIVE SUMMARY Country house hotel and leisure club together with approximately 40 acres 16 guest bedrooms (including the Dingle ) and 6 serviced apartments Events spaces include The Orangery (120) and semi-permanent marquee (140) Impressive sports facilities with established membership base of circa 1200 Extensive development potential including existing and historic consents and permitted development rights Net turnover Y/E Sept 2016: 2.27m INTRODUCTION Acquired by our client in 1994, Prested Hall is an established hotel, racket sports club, health and fitness centre Located within a private country estate, the principal elements of the property are: Grade II listed manor house ( the hotel ); Purpose built sports club ( the club ); The Dingle - a detached 1-bedroom cottage with private garden. NB included in the total stock of 16 guest bedrooms; The Barn - we are advised it currently benefits from permitted development rights for conversion to a small dwelling and may soon also have planning permission to redevelop into a 6-bedroom staff house; The Orchard plot (a 4-acre plot located near the club with planning consent to build a 3-bedroom bungalow.) The Lodge (located at the entrance to the estate) is available under separate negotiation. The Lodge is configured to 5 bedrooms and 2 reception rooms and is currently used for staff accommodation. Prested Hall is offered for sale due to our client s proposed retirement. LOCATION Located just off Junction 24 of the A12 (an arterial route linking East Anglia to the M25), Prested s country house setting, facilities and accessibility make it popular with a range of corporate and leisure clientele. Kelvedon Station is about 1.8 miles from the hotel and has a direct train service to London Liverpool Street fastest journey times circa 50 minutes. Principal conurbations in the region include Colchester (9 miles) and Chelmsford (16), London Stansted Airport is about 25 miles distant.

LOCATION (CONTINUED) Attractions in the region include the Beth Chatto Gardens, Marks Hall Gardens and Arboretum, and the historic towns of Coggeshall with its 300 listed buildings and Colchester (Britain s oldest recorded town, with a colourful history dating back over two thousand years) and home of First Site Gallery, The Mercury Theatre, Colchester Zoo and the Colchester Arts Centre. For walkers and nature enthusiasts, the surrounding countryside offers a wealth of places to visit including Dedham Vale (Area of Outstanding Natural Beauty) and picturesque Mersea Island. THE HOTEL Consistently ranked by TripAdvisor as one of the leading hotels in the County, the handsome Grade II listed manor house features fine period interiors and beautiful outlooks to the Essex countryside. It incorporates 15 guest bedrooms including 3 within the attic apartment, whilst the 16th bedroom is The Dingle, located a short distance from the Hall and often used as a bridal suite. The Hall also contains the 5 charming and characterful events rooms. A summary of the events rooms and capacities can be viewed at: http://www.prested.co.uk/wp-content/uploads/2016/02/meeting-room- Layouts-and-capacities-2016.pdf Often used on an exclusive hire basis, Prested is a popular wedding venue with all of the events rooms also licensed for civil ceremonies. A video showcasing the venue can be viewed at http://www.prested.co.uk/essexwedding-venue/. On the western lawn is a semi-permanent marquee with capacity for 140. To the south of the marquee is a large moat over which is an attractive wooden bridge with a gazebo at one end (licenced for wedding ceremonies.) Ancillary areas within the hotel include well equipped commercial kitchen, general back-room and accounts offices, laundry and store rooms

THE CLUB The purpose built club features an array of impressive facilities including 20m x 12m indoor pool, a 40 station gym, Power Plate room, sauna, steam room, Elemis spa and 7 massage and holistic treatment rooms. An open plan restaurant/café with members reception desk area is located to the ground floor. To the first floor is a fitness studio and an additional 150m2 of undeveloped space. Prested is a bastion for racket sports boasting 3 outdoor lawn tennis courts (one a dual purpose tennis/netball court), 2 (of only 27 in the UK) indoor real tennis courts and 2 recently completed Padel Tennis courts; the latter being some of the first courts built in the UK. (following the immediately successful of these, our client has advised that work has commenced to build two more padel courts. The real tennis courts building also contains approx. over 100 m2 of office and storage space. Within the new padel building there is room for considerable further development and the plan was to build 3 or 4 more staff flats Also contained with the club building are: The 6 serviced apartments already referred to (4 x1 bedroom and 2x 2 bedroom). All are presented to a high standard. 3 staff apartments are also contained within the club building.

DEVELOPMENT OPPORTUNITIES Our client has advised that the Local Planning Authority would, in principle, support the renewal of planning application to develop an additional approximately 30 bedrooms and restaurant, extending from the manor house.; The Orchard plot. A 4-acre plot located near the club has planning consent to develop a 3-bedroom bungalow; The disused single storey barn with various planning possibilities. A 3-acre field the owner believes would be suitable for further sports facilities, or possibly some form of care home building. Interested parties are recommended to seek independent planning advice concerning the development opportunities at Prested. UTILITIES Prested is connected to mains electricity and water and has its own septic tank and reed bed drainage system. The buildings are heated and powered by a 200 KW biomass boiler and 60kw of solar panels each (with considerable government grants). LPG and heat pumps. LICENCES Licences held at the property include Premises and Licence to hold civil marriage ceremonies.

ENERGY PERFORMANCE CERTIFICATES The Hall is Grade II listed and therefore exempt from EPC legislation. For the Club: Gym and Real Tennis Courts: C Swimming pool: A WEBSITE http://www.prested.co.uk/ TENURE The property is held on a freehold basis. THE BUSINESS The hotel is a popular wedding and events venue, bolstered by mid-week corporate function and accommodation business and generates approximately 60% of total net revenue. For the year 2017, the hotel will host at least 105 wedding receptions. It is the Agent s view that clear scope to exists to substantially increase this particular revenue stream. It is notable that previously the hotel hosted 135 weddings in one year. The remaining 40%of netrevenue is generated by the club and spa which has a well-established baseof some 1200 members. It also plays host to a number of high profile events including most recently the Men s Real Tennis World Doubles Championship. The overall trading performance is summarised as: Y/E September 2016 2015 2014 '000 '000 '000 Net Turnover 2,269 2,354 2,001

FURTHER INFORMATION AND VIEWINGS Further information is available upon request to Colliers International. In the first instance a customer viewing may be undertaken. All formal appointments to view must be made through the vendor s agents who are acting with sole selling rights. Please note that under no circumstances should any approaches be made to Prested staff. GUIDE PRICE AND METHOD OF SALE Offers in excess of 4m are sought for the freehold interest in the property and business described above. Stock in trade to be sold at valuation. Our client is a passionate advocate of racket sports and Prested is one of only 5 venues in the world with 2 real tennis courts. Interested parties should note our client requires that any sale will need to accommodate a legacy to ensure Prested remains a bastion of real tennis; this to be achieved by a proposal to grant a long term lease subject to rent being paid to a constituted real tennis club. It is envisaged that more detailed discussions will be held with interested parties at a later stage; in particular, to garner buyer input on the lease structure and the synergies between the legacy and a new owner. Interested parties may wish to note that our client may consider a vendor loan subject to certain conditions. The Lodge (located at the entrance to the estate) is available under separate negotiation

FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact: Paul Barrasford 020 7344 6963 paul.barrasford@colliers.com SUBJECT TO CONTRACT Insert source Disclaimer Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person employed or engaged by Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. May 2017 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA.