With all the effort going on to boost the town’s image, it’s a crying shame that The Crown Hotel in the Market Square remains closed. It’s currently owned by London property developers Wildmoor who, I believe, purchased the building from the previous owners – who then leased it back from the company and remained as managers. After a short while, the managers opted out of the lease and the pub has been closed since March 2009.

I know somebody (a client) who has just looked round the property with a view to taking the lease on. We’d been talking about the town in general some time before Christmas and the subject had got on to pubs (how strange, I hear you say!). I mentioned the fact that Kick Start Fakenham was originally interested in the re-opening of The Star. We came to the conclusion that The Crown was in a great location and could be run as a going concern given the right circumstances - and would considerably enhance the town centre if it was open again.

My client’s viewing of the property had made it obvious that lots of work needed doing to get the place running. The bar area had been previously renovated, taking away much of of the character of this 18th century building (including the original fireplace). The kitchens needed replacing. The rooms upstairs needed work. Sounds like £££s of investment are required to get things up to scratch.

I wonder if Wildmoor have the foresight to see that The Crown isn’t actually a great investment as things stand. The lease, as advertised here at £60,000 a year seems more than a tad overpriced if the intention was to get a tenant in quickly. No wonder it’s still unoccupied. Maybe it would be a better investment if the owners were willing to sell the building on again.

Any local entrepreneurs looking for a project? Drop me a line and I’ll put you in touch with my client – who might be interested in joint ownership rather than leasing it (if the owners are willing to sell, that is)!