ONE of Ipswich's premier live music pubs is today being lined up to change hands following the news that its owners have sold up. The Drum and Monkey, in Princes Street, has long been a favourite haunt for followers of the Ipswich music scene.

ONE of Ipswich's premier live music pubs is today being lined up to change hands following the news that its owners have sold up.

The Drum and Monkey, in Princes Street, has long been a favourite haunt for followers of the Ipswich music scene.

But owners Punch Taverns are now selling the building and it is believed it is unlikely to remain as a pub.

Landlord Dave West said: "As far as I know it's not going to be a pub anymore, but it's still very up in the air. Apparently they are still waiting for contracts to be signed. I should know more by the end of the week."

Mr West said goodbye to his regulars at a special farewell party at the weekend.

He said: "When I heard they were selling up I decided it was time for me to make the move. It's been very difficult attracting the mid-week crowds recently.

"I'm planning to go back to my hometown of Southend."

Over the years, the pub has regularly attracted large crowds to watch some of the region's top bands.

Music promoters say they will be extremely sad to see it close.

Phil 'Stalky' Holland, chairman of the Blank Generation Collective, who have been responsible for organising gigs at the pub, said: "It's very sad because it's a great venue, both size-wise and shape-wise.

"It had built up a very good reputation as a music pub so to have it close is a great loss for the live music scene in Ipswich. It's going to be difficult to replace."

Mr West will be pulling his last pint at the Drum and Monkey on Friday but it is unclear when the pub will close for good.

A spokesman for Punch Taverns confirmed the company is in talks with potential buyers but stressed no deal has been done to see the property as yet.

He said: "Negotiations are proceeding regarding a possible sale."

The Drum and Monkey is earmarked as part of the burgeoning Ipswich Village site.

In the borough council's local plan it has been set aside for leisure and/or employment purposes.