Friday, 6 March 2009

Pubs for Sale in Norwich

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 last year.

Following a major cut in price when the asking price fell from £500,000 to £280,000 two local property developers 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 have not attracted any offers from the pub trade.

A spokesman for Paramount Investments said: “Elm Tavern is still available at £280,000 but the vendor is very keen to sell, so we will accept offers for that amount.”

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