A Bury St Edmunds pub, which last year celebrated its 40th anniversary, has been put up for sale by pub giant Greene King.
The Macebearer, in Home Farm Lane on the Nowton estate, has been put on the market for £340,000 plus VAT.
Ann Williamson, Chairman of the Nowton Neighbourhood Residents Association said the news was a big shock.
“Lots and lots of people go there, I think it will be a big thing for the estate,” she said.
“My concern is if it doesn’t get sold it will lie empty.
“I think it will be a great pity if it becomes anything other than a pub.”
Councillor Sarah Stamp said it would be a huge loss as the busy pub is a ‘real asset to the area’.
“It’s a real shame and I am disappointed they have made that decision,” she said.
“I would hope that someone would take it over and that it remains a pub.”
A Greene King spokesman said: “As a leading pub operator we regularly review the pubs we own. We have taken the difficult decision to place the Macebearer on the market as it no longer fits into our core estate.
“The Macebearer remains open and trading and is in the process of being sold as a pub.”