A well-known pub in Newport city centre has gone up for sale. The Lamb on Bridge Street has gone on the market having stood as a popular watering hole in the centre for much of the 159 years since it first opened.
The three-storey property, which also includes two-bedroom private accommodation, originally opened in 1864. The pub was most recently run by Nick Portman, who took it over in April of last year.
Mr Portman told WalesOnline that trade at the pub had been "ticking over" in previous months but had been impacted by the cost of living crisis. "I think basically you've got Stonegate looking to put 1,000 pubs up for sale, Admiral are putting pubs up for sale," he said. "In a lot of places pubs are not working anymore."
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Mr Portman said the pub had been hit by rising costs and higher beer prices which had impacted trade before he departed last December and owners Admiral Taverns decided to sell.
"The problem was we couldn't afford what the breweries were charging for barrels of beer. It's unfortunately exactly the same as the Engineer's, the Alma [and other pubs in Newport that have closed]. You've got the cost of living problems, and I think you're going to have a lot more [pubs closing]."
The pub has been listed by Sydney Phillips with a fixed price of £295,000. You can view the property listing here. Admiral Taverns was approached for comment.
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