£20,000 knocked off pub price
A cool £20,000 has been knocked off the price of a Brierley Hill pub in a bid by agents to generate more interest in the prominent site.
The Cottage Spring, in Mill Street, is now on the market for £275,000 plus VAT. Scores of pubs have closed throughout Dudley since the introduction of the smoking ban.
Last orders have been called at 19 pubs in Dudley North in 20 months to February this year. In Dudley as a whole, 58 pubs have closed since June 2005.
The revised price for the Cottage Spring includes all the building's contents, including seating, carpets and the wooden bar along with the site's freehold.
The pub has been on the market since April and was originally given a price tag of £295,000. But agents from Fleurets, who are dealing with the sale, say a decision was made last week to reduce the asking price.
This has been put down to current market conditions.
The building is located in a residential area and includes a 12-space car park and function room.
There is also living accomodation on the first floor of the building including a double bedroom, kitchen and lounge.
The function room has its own bar and is decorated with a range of loose tables and chairs.
A spokesman for the agents said: "We have decided to reduce the asking price for the Cottage Spring by £20,000. This has been taken due to the current market conditions.
"It is also hoped a reduction will increase the amount of interest in the site."
The agents said the intention was for the site still to be used a pub when it was taken over.
The spokesman added: "If another use is intended for the site it will be up to the new owner to apply for that permission.
"We are simply selling the freehold."
The current premises licence for the pub still stands with trading permitted between 10am and midnight Monday to Thursday.
Friday and Saturdays the license is for trading between 10am and 1am and it reverts to 10am until midnight on Sunday.
