A historic estate formerly owned by press baron Lord Beaverbrook will not be open to visitors this year after owner, The Beaverbrook Foundation, announced that it was no longer financially viable.

Two consecutive wet summers and the economic downturn have been blamed for the decision to close Cherkley Court and Gardens near Leatherhead, Surrey, which is set in 400 acres (162 hectares) of park and woodlands.

Cherkley Court, which was home to Daily Express proprietor Lord Beaverbrook between 1910 and 1964, has recently undergone an extensive renovation programme designed by David Mlinaric of interior designers Mlinaric Henry and Zervudachi.

However, the Beaverbrook Foundation said that it was no longer financially viable to open the estate to the public following "three challenging years", but would continue to host events and weddings booked for 2010 as planned.