A MONMOUTHSHIRE pub which has become a favourite with foodies is back on the market ��— after the owners dropped the asking price.

The award-winning Bell at Skenfrith, near Abergavenny, is now on sale for £775,000 freehold, following a rethink on the £1.2 million asking price.

The privately-owned 11-bedroom inn was refurbished in 2001. Its accolades include AA wine award for Wales, Michelin pub of the year, five AA stars and two AA rosettes.

Peter Brunt, hotels director at agents Colliers International, said: “Our clients acquired The Bell in 1999 and the business has been run under management for them since. They have now decided that they would like to direct their energies elsewhere, resulting in this wonderful opportunity becoming available.

“One of the most damaging effects of the downturn was the tendency to over-price property.

“We always advise owners to go for a realistic asking price and I am sure this will make all the difference at The Bell.

“The market is also showing noticeable signs of recovery in buyer numbers and lender activity and I believe we will see lots of early interest in this well-known, quality business.

“This represents tremendous value for money given the size and quality of the property.

“A position by water is a draw for a business, and The Bell has a wonderful location close to the river Monnow.

“The location helps draw trade from Hereford, Gloucester, Cheltenham, Bristol and Newport.”

The Bell’s management did not want to comment about the situation.