Price of The Rede Plough, near Bury St Edmunds, on market for months with Everard Cole reduced to £325,000
The price of a popular pub which has been on the market for nine months has been reduced by £75,000.
The Rede Plough, near Bury St Edmunds, is for sale with Everard Cole with freehold offers in the region of £325,000.
The Grade II listed 16th Century pub, in Church Close, closed last December, following the departure of landlords Sallie and Paul Adams.
The couple took it over as tenants the previous September after landlords of 40 years, Brian and Joyce Desborough, retired.
Admiral Taverns, which owns the pub, had hoped new tenant landlords could be found.
But the thatched pub was put up for sale in February at £395,000, which was reduced about a month ago.
Gareth Hatton, of Everard Cole, said: “It’s an absolutely cracking pub and it’s received plenty of interest from people looking to keep it as a pub which has been nice and refreshing especially in the current climate when you hear all the doom and gloom about pubs. This one’s gaining traction.”
However, he said the issue has been the upstairs accommodation, which although is nice and charming with its exposed beams and character, has low door frames and a layout which seems to be a hurdle for potential buyers.
With the pub sitting on half an acre of lane, Mr Hatton said there was potential for accommodation to be added.
“Everyone has said it’s a lovely, beautiful and charming pub and it needs to open as a food-led destination because of where it is,” said Mr Hatton.
“If someone did open it up, it would be well supported by locals.”
Everard Cole, in Cambridge, lists its features as: main bar, restaurant and snug, traditionally decorated, with a large plot of 0.5 acres and three to four bed private accommodation.
It said the ground-level trade kitchen area is situated behind the bar, providing central service throughout.
Towards the back of the building, there is an attractive courtyard garden that can be used for dining during warmer weather, which leads to extensive grassed areas, it added.
The site provides a large car park with ample parking spaces. There is also a large wooden barn unit to the side of the car park, currently used for storage.
Contact Gareth Hatton on 01223 370055, 07493 126447 or firstname.lastname@example.org