Article DetailsHistoric Norwich Pub for Sale as Norfolk Pub Closures Increase |
| Date Added: April 22, 2009 02:08:15 PM |
| Author: Ian Brown |
| Category: Real Estate Press Releases |
| Fears have been raised that yet another historic Norwich pub could be replaced by housing, joining an ever expanding list of drinking holes which have vanished from the city.The Elm Tavern in Magdalen Road, which dates back to 1832 but was rebuilt after the Second World War, has been on sale since April.And following a major cut in price last month, which saw the asking price fall from £500,000 to £280,000, two local property developers have expressed interest in buying the site to build houses.London-based selling agent Paramount Investments had hoped the cut in price would secure the Elm Tavern's future as a pub, but so far the premises, owned by Admiral Taverns, has not attracted any offers from within the pub trade.In recent years many city pubs have closed to make way for homes.In April, plans were submitted to build houses on the site of the Duke of Connaught on Livingstone Street, off Dereham Road, and an application has been made to knock down the Shoemaker pub in the Earlham West Centre to make way for homes.Last month plans were made to replace the derelict Roundwell Pub in Costessey with homes and a medical centre.Mark Greig, managing director of Paramount Investments, said: “We have had some interest from two local property developers but there is nothing solid to report at the moment.“The interest has been from developers looking to redevelop the pub as housing as opposed to interest from the licensed trade to keep it as a pub.“That doesn't mean to say it is going to be redeveloped as housing, but we have not had any interest from the pub trade at the moment.”But Norwich pub historian Derek McDonald said he would like to see the Elm Tavern remain a pub.He said: “I'm not surprised the interest has come from housing developers, but I hope it can be reopened as a pub again so someone can give it another go.“But there is quite a lot of competition nearby, such as the Whalebone and Duke of Edinburgh.“If it can't be sold as a pub it doesn't need to be knocked down. It could be turned into a community centre to give kids somewhere to go.”Anyone interested in buying the Elm Tavern can visit Paramount Investments for more information. Paramount Investments are specialists in sourcing freehold and leasehold pubs for sale and other pub company or brewery investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Investments 150 West End Lane Web: http://www.paramount-investments.co.uk |
