Rutland, often overlooked and England's smallest county, is poised to become a prominent luxury destination with the announcement of Nobu Hotels' first countryside retreat. The development, a collaboration with local private member's club Woolfox, is set to open on a 185-acre estate. This move suggests a potential shift away from established luxury hotspots like the Cotswolds, which are reportedly experiencing a downturn.
Shifting Luxury Landscape
While the Cotswolds have long been a draw for celebrities and the affluent, recent reports indicate a cooling of interest. Property prices in the Cotswolds have reportedly slumped by 12% in the past year, with some attributing the decline to overcrowding, high costs, and a perceived loss of authenticity, sometimes described as becoming too "Disney-fied." High-profile individuals have reportedly struggled to sell properties, with some opting to remove them from the market.
In contrast, Rutland is being described by some residents as "the Cotswolds without the crowds." The East Midlands county is experiencing a rise in interest, driven by its scenic countryside, historic towns, and quality educational institutions. Trevor Horwell, CEO of Nobu Hospitality, noted the "truly special location in the heart of England" and the opportunity to create a "countryside retreat experience in a setting defined by nature, tranquility and a sense of escape."
Rutland's Appeal
Experts suggest a growing appetite among luxury travelers for destinations offering a genuine sense of escape, a trend Rutland is well-positioned to capitalize on. The area boasts good connectivity to London, with train journeys from nearby stations to King's Cross taking approximately 45 to 50 minutes. The region's appeal is further enhanced by its educational offerings, including prestigious public schools like Uppingham and Oakham, which attract families from both within the UK and from overseas, including expats from Hong Kong and Singapore.
Property values in Rutland, while rising, still offer more relative value compared to the Cotswolds. A £1 million budget might secure a four-bedroom house, with a £2 million budget potentially affording a rectory with five acres of land. Local estate agents have reported a significant increase in interest, with a £3.5 million sale of a Grade II listed ironstone farmhouse in Braunston-in-Rutland highlighting the market's activity. The Nobu development is said to have generated considerable excitement in the area.
Contrasting Popularity
The popularity of areas like Bourton-on-the-Water in the Cotswolds has reportedly been impacted by an influx of "TikTok tourists" and the proliferation of trendy coffee shops and expensive gastro-pubs, detracting from the experience for some long-term residents and visitors. Conversely, Rutland's growth is described as more measured, avoiding the extreme crowds and commercialization seen elsewhere. Local lifestyle magazine editors have noted a significant increase in people relocating to Rutland from London and the South, drawn by a high quality of life that doesn't compromise on culture, education, dining, or natural beauty.
Rutland offers attractions such as Hambleton Hall, a luxury hotel with a Michelin-starred restaurant overlooking Rutland Water, and a burgeoning arts scene, including the Nevill Holt Festival. Local businesses, like Gates Farm Shop & Butchery, provide high-quality produce without the premium prices found in more saturated tourist areas. The growing interest in Rutland signifies a potential new chapter for the county as a desirable destination for luxury travel and residence.