ONE of Bristol's oldest pubs is to reopen just a few months after it was badly damaged in a suspected arson attack.

The Elephant, in St Nicholas Street, has been operating as a pub since 1853 but nearly went out of business after it was badly damaged in a fire which is believed to have been started deliberately.

But now the new owners, Ben Bartrip and his girlfriend Sarah Eskins have big plans for the pub, which is on one of Bristol's busiest streets.

The couple, were both working for financial service companies, but are now aiming to launch a chain of pubs based in Bristol, with the Elephant the first phase of their empire.

Mr Bartrip, 35, said: "I have always dreamed of running my own pub and we have been looking for the right opportunity for about two or three years.

"We want to run a pub for grown-up people. Somewhere where people can come along and enjoy a quiet drink and have something nice to eat. We have spent a lot of time and money preparing for this day and we are both incredibly excited."

The pub, formerly known as The Market Place, had been closed for several months following the fire but has now been bought by Ben and Sarah's fledgling company Bar-Inns Trading.

Mr Bartrip said: "We were looking to buy the pub and then the fire came along. There was a lot of damage in the cellar, but we decided to press ahead anyway. All it meant was that we had less time to carry out the refurbishment than we expected."

The couple are planning to work in the pub in the early days but then hope to take a step back and run the company if it takes off and more pubs are added to the chain.

Mr Bartrip said: "Pubs having been having a hard time of things recently with the recession and the ongoing debate over minimum pricing in supermarkets, and most stories are about pubs closing.

"Whilst it is a shame that the building was damaged by the fire, it has given us the opportunity to refurbish the premises to the quality that a building as historic as this deserves.

"Although people have not got a great deal of money to spend at the moment, there is still a flight to quality. People are always interested in quality and value for money, and that is what we are offering."

The building originally dates from the 17th century and was first listed as 'The Elephant' in 1853. The original building was demolished in 1863 when St Nicholas Street was widened, but it was rebuilt by architect Henry Masters and completed in 1867. Since being rebuilt the pub has had numerous names but has always traded as a public house.