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Historic Inverness pub has £50k slashed from asking price after three years on market

The pub has seen performances from recognisable names including Amy Macdonald, The Proclaimers, Paolo Nutini and Billy Connolly.

Market Bar Inverness
The iconic Market Bar in Inverness has slashed its price again. Image: ASG Commercial.

An Inverness bar has seen a further £50,000 slashed down from its asking price after three years on the market.

The Old Market Inn (Market Bar) is on the market with a dropped price of £550,000 – despite reductions earlier this year.

The bar, which is tucked away behind the Victorian Market on Church Street, has history dating back to the 1740s.

Current owners, Ian and Pep Shepherd, have operated the bar for the past 40 years and are eyeing retirement.

Following first being listed at £695,000, it saw a drop of nearly £100,000 in March after struggling to find a new owner.

Famous faces hosted at Market bar

Market Bar has seen performances from recognisable names – including Amy Macdonald, The Proclaimers, Paolo Nutini and Billy Connolly.

Selling agent ASG Commercial has called it an “outstanding opportunity” which would suit a “hands on couple”.

The brochure states: “The Market Bar is an archetypal business within Inverness centre and is situated in a popular trading location.

“This traditional pub and music venue is a destination location for locals and tourists alike.

The bar currently employs five full-time staff to cater to its “loyal” customer base. Image: ASG Commercial.

“The current owners have operated the business for over 40 years operating this tradition facility successfully for the whole period.”

Market Bar consists of three floors and can accommodate up to 120 guests across its two bars.

The ground floor is currently the main bar while the first floor is used as a music venue.

The second floor lies empty and offers a development opportunity to new owners.

Profitable project available says selling agent

With a rateable value of £37,000, ASG Commercial claims it could “generate adjusted profits in excess of £100,000 per annum”.

The business is open seven days a week and employs six staff -five of which are full-time.

The ground floor bar has a real small bar feel with the building dating back to the 1700s. Image: ASG Commercial.

The brochure states: “The business benefits from an increasingly loyal local support plus a growing number of casual visitors.

“It is believed that that the Market Bar could drive trade to a higher level where new motivated owners were to take a hands-on role in the business.”

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