WETHERSPOON’S NEWS
It has not been easy to establish what has happened with the various sites that JDW have put up for sale and I only want to report events that have been verified. According to the website run by the two firms of agents dealing with the sales, it looks as if the Last Post in Loughton (IG10 1BB) and the Toll Gate in Turnpike Lane are under offer but all of the others in London are still showing as ‘offers invited’. The Penderel’s Oak in Holborn has been withdrawn from sale. Instead, JDW are not renewing their lease on the highly regarded Knights Templar, which will have closed by the time that we go to print. Another site put up for sale is the State Cinema in George Street, Grays, Essex. JDW purchased the freehold of this Grade II-listed building in 2015 but, despite obtaining planning permission to do so, they never developed it as a pub. Meanwhile, it is interesting to note that the Skylark in South Croydon, which JDW closed and put on the market in March last year, remains unsold.
As regards new developments, JDW had hoped to turn the former TGI Friday site in Bedford Street, Covent Garden (WC2E 9HZ) into a pub but the City of Westminster have refused their ‘change of use’ application. There had been considerable opposition from local residents. On a more positive note, JDW’s new outlet near the O2, the Stargazer, was due to open on 21 March. They have also announced that they have acquired a former lap dancing club in Eversholt Street near Euston (NW1), which they have named the Captain Matthew Flinder. This is subject to Camden Council approving the change of use. CAMRA’s North London branch is supporting the application. The cost of the project is estimated at £2 million.
MORE POB DISPOSALS
Two of the largest pub owning businesses (POBs) are disposing of more pubs. The Stonegate Group, currently the UK’s largest POB, are looking to sell around 1,000 of their 4,500 pubs. It is reported that the proceeds, forecast to be around £800 million, will go towards paying off some of their £2.6 billion debt. Interest rates have, of course, been rising but their chairman, Ian Payne, said that their biggest concern was energy costs and the uncertainty as to what happens after 1 April.
Slightly more modestly, Marston’s (Wolverhampton & Dudley as was) are selling 61 pubs, described as ‘non-core’ properties. These are a mix of tenanted, retail and managed pubs located across England and Wales. They are available separately, in small batches or as a single package. The decision arises from a routine review of their estate. CAMRA’s national chairman, Nik Antona, speaking on BBC Radio WM, said, “What we’re concerned about is for the properties to remain as pubs and that the tenants that are in them now have the opportunity to buy them and continue to run them as pubs.” Marston’s have recently reported improved sales, having done well over the Christmas and New Year period.
Curiously, one of the pubs up for sale is the Crooked House (formerly the Glynne Arms) in Himley. Built in 1765 as a farmhouse, it was affected by subsidence from mining works during the 19th Century and one side has sunk spectacularly, although the building has remained sound enough to continue as a pub, albeit an unusual one. I am surprised that Marston’s wish to dispose of this popular tourist attraction.
FULLER’S RESULTS
In a trading update in advance of the release of their full year results in June, the pub company reported that sales during the ten months to January were up 20% on the same period last year, although they are still marginally below those from 2020. Sales were up 38% at Christmas and New Year. The year’s profit is predicted to be some £4 million short of expectations because of the effect that the railways dispute has had on their City and West end pubs. Chief executive Simon Emeny told the Morning Advertiser, “Although strike action and the cost-of-living crisis create short-term hurdles to our post-pandemic recovery, we remain confident in the resilience of the pub and the future opportunity for Fuller’s. We are a long-term business and we will continue to invest in our people, in our properties and in providing excellent reasons for our customers to visit.”
URBAN PUBS & BARS
London based Urban Pubs & Bars are increasing their estate. They have reopened the Commercial Tavern in Spitalfields (E1 6NU), acquired from Barworks in 2021, and the Queens Head in Shoreditch (E1 6PJ), which was formerly the AB InBev Goose Island brewpub. Other sites in Camden, Hampstead and Crouch End will follow. The group now operates some 40 sites.
BREWDOG GO EAST
BrewDog’s global ambitions continue. They have arranged for several of their brands to be produced and distributed in China by the Budweiser-owned Putian Craft Brewery in Fujian Province. BrewDog currently have one outlet in China, in Shanghai, but are looking to open several more. They also have ambitions in India, looking to open more than 100 bars across the country over the next ten years. They have already opened three, two of which are in Mumbai.
BEST SELLER
According to a report in the USA-based ProBrewer Beverage Industry Weekly Summary, Guinness has now overtaken Carling (4% ABV) as Britain’s best selling beer. Sales of the Dublin brewed stout have increased by 9.4% and the recent results of the brand’s owner, global drinks company Diageo, improved accordingly. Apparently, currently, one in every nine pints sold in a British pub is a Guinness, despite it traditionally being more expensive than the products of the other multinationals. It would be nice to think that ‘new’ Guinness drinkers might be tempted into trying some of the wonderful stouts and porters brewed by smaller breweries. Carling had been Britain’s best selling beer since 1985. I have to admit that I hadn’t noticed that the words ‘Black Label’ were dropped from the brand name in 1997. I was also surprised to read that Black Label was introduced to this country as long ago as 1952. It was however only available in bottles until 1965.
STRIKING IT LUCKY
There is a long history of temperance pubs in Britain, in particular in the north west of England, and at least one, Mr Fitzpatrick’s in Rawtenstall, Lancashire, is still going. London will soon have a pub that, although it will sell alcohol, will lead on selling a non-alcoholic beer. The Lucky Saint company have taken the lease of the former Mason’s Arms in Fitzrovia that closed just after the end of the pandemic. It will be renamed the Lucky Saint and will also serve as the company’s offices. There will be a menu of ‘reimagined pub classics’. The beer is an unfiltered lager, believed to be brewed in Bavaria. It is already widely available in bottles, cans and on draught.
AB INBEV AND CRAFT BEER
Another report from the ProBrewer Beverage Industry Weekly Summary. In recent years, AB InBev have acquired a substantial number of small breweries across the USA. It is however now reported that they have started laying off sales and marketing employees at these sites, plus some head office staff who supported these breweries. It is understood that this is part of the company’s change of direction to what it calls the ‘beyond beer’ market. The only brewery in London owned by AB InBev is Camden Town.