A pub seeking new ownership has had its asking price slashed.

The Prince of Wales, in Newhaven, which has been described as a “cracking little old school” is now on sale for £370,000.

The pub has been listed by property agents Sidney Phillips.

The Prince of Wales pub in Newhaven (Image: Sidney Phillips)

Situated in South Road, the pub is located in a residential street near the town centre.

One review, from Bill Edmunds, said: “It is an absolutely wonderful little pub with great choice of beer and the owners are so friendly that you will immediately feel at home.”

The Prince of Wales pub in Newhaven (Image: Sidney Phillips)

Ian Edwards said: “The beer is always in first rate condition.”

The “non-pretentious” atmosphere has also gained praise by reviewers.

The Prince of Wales is a two-storey, brick-constructed, mid-terrace property with a distinctive green tile frontage with mock Tudor elevations above, a nod to its 1930s heritage.

The Prince of Wales pub in Newhaven (Image: Sidney Phillips)

Internally, the pub is sectioned into two customary bar areas: the saloon bar and the public bar.

The former accommodates 28 patrons and comes adorned with carpeted flooring, a wood-built bar servery, and a flat-screen television, while the latter houses a pool table, dart board, two televisions, and seating for 16, alongside space for additional standing guests.

The first-floor owners’ accommodation comprises two double bedrooms, a double bedroom with an en suite toilet, a living room, kitchen, utility room, shower room, and an extra toilet facility.

The pub also includes an outdoor courtyard patio offering seating for ten guests.

The Prince of Wales pub in Newhaven (Image: Sidney Phillips)

Under the stewardship of its current owners for the past 25 years, the Prince of Wales has functioned as a traditional wet-only public house.

The business is run by the current owners as a “lifestyle business”, negating the need for additional staff.

The pub capitalises on a traditional atmosphere, devoid of modern fruit machines or jukeboxes, promoting itself as a spot for a “true pub experience centred around good beer and talking”.

The Prince of Wales also plays host to a pool and dart team.

There is potential for business expansion for any new owner by extending the current opening hours, the estate agents said.

The Prince of Wales pub in Newhaven (Image: Sidney Phillips)

According to the accounts held for the year ending March 31, 2024, the net turnover was reported at £124,663, with an adjusted net profit of £48,819.

More detailed accounting information can be provided to interested parties following a formal viewing.