The Shawes Arms is up for sale after an extensive structural refurbishment.
The pub, which is located on London Road, Preston, is located along the Ribble and has a certain amount of natural footfall due to people doing the Guild Wheel.
It can be purchased for £325,000 from Northwest Homes. The Shawes Arms has now been closed for a decade having seen off several owners and a pandemic without successfully reopening.
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Some renovations have already started, with a completely new roof and central internal wall installed.
The description says: “The property has a lot of potential to convert the current pub to a beautiful restaurant overlooking the River Ribble.
“The property has spacious land which has the potential to build a number of apartments subject to planning permission.
“Fantastic location as it will overlook the River Ribble. There is also ideas of building a Fisherman’s Lodge subject to planning.”
The property was bought by the owners of popular Friargate eatery Coco’s Soul Food in 2019, but they were forced to abandon plans to refurbish the building due to financial issues.
A spokesperson for Coco’s said at the time: “We had plans to convert the property into a restaurant and community gathering area.
“The building was in a very poor state and needed extensive reconstruction. It had to be taken back to the bare brick and everything including the roof had to be completely rebuilt.
“We have spent most of our savings and resources. Covid has had a massive effect on our business, and soaring building material and food prices have left us financially stranded.”
Back in 2017 dynamite was discovered in the pub.
Preston Police called in the bomb squad after the discovery as a spokesperson for the police confirmed officers searching the Shawes Arms found a ‘small quantity of suspected dynamite’.
The incident was not treated as terror related as the bomb squad entered the pub and removed the potential dynamite.
A spokesperson said: “Looks like it was modified explosives, possibly some fireworks. They are being removed by the bomb squad and will be disposed of safely.”
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