Discussion in 'Brixton' started by editor, Jan 18, 2019.
Whether there is a market there for five quid pints and ten pound dinners remains to be seen.
Well I know what I'll be doing on Friday now!
I've been told that "Lt is a holding company, used by pub companies until they get a buyer," which makes sense.
Very exclusive establishment. You wouldn't like it.
Perhaps, but the lack of a thorough transformation a la Tulse Hill Hotel (anyone who’s been pre and post transformation will know what I mean) seems to me a good sign for the old patrons. There’s no way the new owners could get away with charging upmarket prices and marketing it as high quality gastro pub/ hotel without first tarting it up very considerably.
Thought the building would need a lot of work though?
I think that Facebook page is fake
ltmanagementservices.com is their real website. ltmanagement.com doesn’t exist.
Ignore me. I’m talking sh1t...!
I'm not so sure. I can't see how the business model would work. Everyone knows the building needs a lot spent on it, and if JDW spent £2.5m on the freehold in 2016 then the current sales value must have been similar. Unless LT are very cash rich then they could have loan/mortgage payments in the region of £10k/month on top of staff and running costs all of which will need to be covered, plus they are unlikely to have access to the supply chain and purchasing power of JDW. Anyone purchasing from them would need similar levels of capital and have similar costs.
I don't see how the pub can continue in its current format unless as a JDW outlet, and if it had been viable for them to have done all the repairs then surely they'd have kept it. Something, somewhere has to give. I can't see disposal of the car park alone working as the proximity to other buildings restricts development opportunity. A pubco with lots of capital might make it work as something like the Tulse Hill Hotel with maybe an accommodation annexe in the car park, but i can't see an independent getting sufficient returns to stay afloat.
What we don't want is independents taking it on and closing down because they can't make money, as demonstration of lack of viability would put it at risk of development.
Also found this- Bar Staff - The Crown & Sceptre - Streatham - Indeed.co.uk
The address is conflicting but looks like a simple mistake
What a peculiar story.
So, some company are going to swoop in 5 days after it closes as a wetherpoons, and start banging out pints again like nothing has happened?
It doesnt make much sense at all, how are whoever these people are, going to sort the place out and get everything up to speed, assuming they are nothing to do with Spoons?
Its going to look and feel exactly the same. All the beer pumps and equipment the same, furniture, toilets etc etc.
Still, if a price of a pint is similar, then it can only be good news. Im not holding my breathe, however.
I think it is more of a case of a holding company running it as a going concern until a genuine purchaser comes along. If that's the case then i can't imagine they'll make any alterations as they won't want the associated costs, but i also can't imagine the prices or products will be the same as the supply chain belonged to JDW.
I've got the afternoon off on Friday so will pop in and see. Assuming they have any staff by then...
And there we have it!
Booze and nuts delivery this morning!
So is this a common scenario? I've never heard of it happening but my knowledge on this kind of thing are not great.
I would hope they would be reasonable on the drink prices, since what they have in their favour is a sizeable customer base that will be willing to have a look in once it is open again, but will be alienated if they start off by charging £5.20 a pint.
Yep! Just seen them rolling out the kegs. And a cage full of bottled beer - Blue Moon and Desperados were the only brands I could glimpse.
There’s also a van at the back from Oxford Bar Company - Mobile barware for any occasion, which might suggest that this is an interim setup?
Desperados - !!!
I've not heard of it before, and tbh that came from Ed's buzz article. Their website doesn't give any indication of their clients or any pubs that they actually own, but the internet shows them as managing the former Mitchell & Butler portfolio on behalf of a fund and also a chunk of New River's portfolio (200+ pubs acquired from Marstons). Mitchell & Butler aren't exactly budget pubs.
Ah I see. It's my local. In Morden.
They might do a White Hart and alienate the whole customer base by making stupid rules and putting the prices up
Remember this failed attempt at gentrifying a good old local...
The pub where standing is forbidden – the White Hart in Tulse Hill draws terrible reviews
Can you drink at the bar? The important issue.
I echo all those keeping their fingers crossed for a sub 3 quid pint ... heres also hoping that they get someone who can cook in the kitchen. Apart from the veg curry and the steak and kidney puddings spoons food was atrocious ...
My nickname for the pub used to be The Septic but from now on its The Lazarus - in time maybe The Laz for short ...
More beer arrives...
I doubt if the new owners can match Spoons super-low prices - and maybe it's unfair to expect that - but come on, there's still plenty to celebrate when a closed pub comes back from the dead.
One week turn around too...surely something to celebrate....I may pop in Saturday.
I wonder if they'll doing food straight away???
I'm not sure spoons allowed that did they?
Yeah, theres no way it'll be close to spoons pricing, but just hoping its perhaps, £4 a pint of lager or something. Nothing around the £5 mark, ideally.
Just looked at Green Kings portfolio - as well as top end places like the Tulse Hill Hotel its also responsible for the Hungry Horse outlets which might be a better fit as there are now 3 high end pub/hotels in the area and Mac Ds are already across the road ...
Marstons truck delivering the beer which could be a tell tale sign.
I see they already own 1500 other pubs
Separate names with a comma.