Chesterfield’s oldest pub is struggling to hook a new owner despite a £100,000 reduction in its original asking price.

The Royal Oak in The Shambles has had three price cuts since it was put up for sale. Now on offer for £195,000, it’s a steal compared to £295,000 which it was first advertised at in January 2022.

Steeped in history, the half-timbered hidden gem in the town centre has operated as a pub since 1722 according to the earliest records. The building originally served as a rest-house for The Knights Templar during the Holy Crusades of the 12th century. During the medieval period, the premises housed two butchers and accommodation.

Andy Tudor who is divisional director of Fleurets, which is marketing the property, said: “It’s a wonderful building which doesn’t particularly lend itself to anything else than a pub. I think it should be a traditional style cask ale emphasis pub with food no more than a few pork pies and cobs in a chiller cabinet. For a £15,000 to £20,000 refurb, you could have it nice and comfy – it doesn’t need to be bespoke.”