22 Feb HISTORIC PUB-THEATRE IN CENTRAL LONDON LOOKING FOR NEW OPERATOR THROUGH CHRISTIE & CO
Islington’s famous Old Red Lion, an historic pub and theatre venue dating back to the 1400’s, has been brought to the market through specialist business property adviser, Christie & Co.
Situated a short walk from Angel Underground Station, The Old Red Lion enjoys high footfall from visitors, workers and residents of this popular area.The pub operates from a four-storey building, parts of which have been altered and extended over the years, and retains many of the property’s original features that preserve its history as the site of a pub since 1415.
The substantial venue comprises an 80-cover ground floor bar, a partially covered outside terrace with seating for 20 and a fully fitted theatre for up to 60 guests, which has been in operation since 1979.
Due to its longevity and rich heritage, The Old Red Lion is a highly regarded establishment, noted for its real ales and being home to one of London’s most renowned fringe theatres. Whilst predominantly a wet-led business, the property also benefits from having a commercial kitchen, providing an opportunity for a new operator to develop the food trade. There is also a self-contained flat and other accommodation for staff.
The business is for sale with the benefit of a new, part tied 15-year lease from Star Pubs & Bars.
David Wilson, Business Agent at Christie & Co who is handling the sale, comments, “Having been operated by the family for many years, The Old Red Lion provides an incredibly rare and exciting opportunity to run an established and renowned pub with a theatre, allowing an incoming operator to benefit from multiple income streams, including one of London’s last remaining pub theatres.”
Christie & Co is seeking a £450,000 premium for the leasehold interest of The Old Red Lion.
