A PUB is on the market for over £1 million after plans were approved to convert it into homes.
The Vale of the White Horse Inn had previously been extensively marketed and last year was available for a price of £695,000.
At the time the venue, located on Station Road in Minety, between Malmesbury and Cricklade, was described as having the potential to be a boutique hotel and pub.
But in March, following a lengthy planning process, permission was granted to change the use of the pub to seven residential apartments.
Since then, the pub has been relisted for sale as an “exciting development opportunity”, this time for a price of £1.1 million.
As well as permission to convert the main pub building, planning consent is also in place for the construction of six new build houses in the venue’s extensive grounds.
The pub’s current owner first purchased the property 22 years ago when it was closed and in a “semi-derelict state”.
Following the purchase he “extensively restored” the property to reopen the pub and make it a viable business.
In the 2022 design and access statement for plans to transform the inn into housing, agent Willis & Co revealed the business had been operating at a loss for five years, and the owner was not making a wage.
This was despite numerous attempts to increase revenue over two decades, including failed plans for relocation and guest accommodation.
The pub was on the market for years but reportedly received no offers or interest from prospective buyers.
A Willis & Co spokesperson said: “Therefore, despite all of the applicant’s best efforts, it seems clear that a public house in this location is no longer viable and the applicant considers that the conversion of the public house into residential units will not only make the best and most viable use of the site, but it will help the council meet its housing land supply.”
Perry Bishop, the estate agent marketing the site, believes it is a “unique and lucrative” investment opportunity.
In the listing, a spokesperson said: “This historic property offers a unique investment opportunity with approved planning for significant development.
“The planning permissions ensure the potential for a lucrative development project that respects the historical significance of the site while providing modern residential accommodations.
“This sale represents a rare chance to acquire a property with both historical charm and substantial development potential.”
The 1.4-acre site also houses a lake, car park, and squash court.
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