Oxford's famous Eagle and Child pub could cost more than £1m to renovate, according to a real ale expert.
In November it emerged that the pub in St Giles, renowned for its links with JRR Tolkien and CS Lewis, is likely to remain closed for another two years.
The pub has been shut since March 2020 and there are ambitious plans for it to be refurbished, with boutique hotel rooms also provided.
But these plans have stalled, according to Dave Richardson, a spokesman for the Oxford branch of real ale group CAMRA (Campaign for Real Ale).
Read again: Eagle and Child will stay closed for two years
Mr Richardson said the pub’s owner, St John’s College, which also owns the Lamb & Flag on the other side of St Giles, was now seeking new landlords after pub companies Youngs and Nicholson’s/Mitchell & Butler decided against going ahead with the proposal.
Mr Richardson added: "I think it would cost more than £1m to renovate the Eagle and Child.
I've heard is that anyone taking it on would need very deep pockets, and the proposed rent of £165,000 per annum would be beyond the reach of many even though that would include the letting rooms. Much would still need to be done by anyone going in.
Read more: The historic Mitre pub is now an eyesore
"We know there has been plenty of interest shown in the Eagle and Child, but the poor state of the building means that anyone taking it on faces very high initial costs with owner St John's College only committed to doing some of the remedial work needed."
While plans renovate the Eagle and Child appear to have stalled, there is good news on the other side of St Giles, where a community interest group, called The Inklings has bought the lease of the Lamb & Flag from St John's College.
The pub shut in 2021 due to the pandemic.
Read again: Historic Grapes could reopen by end of 2022
The interior has been revamped and managers of the group say they hope to reopen after Easter.
Mr Richardson said is was encouraging to see such good progress at the Lamb & Flag but he was disappointed by the lack of progress at the Eagle and Child.
He said earlier: "The Eagle and Child matters not only because it is a beloved pub, but because it has achieved global fame because of the writers who used to meet there regularly. JRR Tolkien and CS Lewis were the leaders of a group known as the Inklings, who also patronised the Lamb & Flag.
Read again: Looking back at good times at The Mitre
"Plans have been approved to create between six and eight boutique hotel rooms above the pub and what used to be the Green Café next door, with the ground floor of the former café acting as hotel reception.
"The conservatory at the back of the Grade II listed pub would be demolished and the ground floor extended.
"A letting notice put out by estate agent Savills Licensed Leisure makes clear that the new landlord will be responsible for the works and for fitting out the building."
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