Wetherspoon Woes

[Nigello]

The big one in Forest Hill is up for sale, according to the firm and reported in the DM.

[Castleton]

Couple in Croydon also up for sale, shame as the owner seems like such a nice chap! (not)

[Dogkennelhillbilly]

Hopefully someone who isn't Tim Martin can take it over and run it, keeping the reasonable prices and food. I just can't forgive him for his Brexit views or for being the dad of the Coldplay bloke.

[NewWave]

I do hope the FH gets taken over by another pub chain.

It would be awful to see it become yet another church (I dont have anything against churches btw...I just like old cinemas to be repurposed into something for the wider community)

Its a beautiful building and I believe it is actually listed..

More importantly although not a Wetherspoons drinker I feel sad for the loss of somewhere that locals can get cheap drinks and cheap hot meal or breakfast.

Its also somewhere that a whole family with limited funds can go for a birthday evening out.

Not to mention the sad loss of jobs for locals.

[Penguin68]

These are the pubs being sold off in London, Croydon is separate.

London Battersea - Asparagus

London East Ham - Miller's Well

London Eltham - Bankers Draft

London Forest Gate - Hudson Bay

London Forest Hill - Capitol

London Hornsey - Toll Gate

London Holborn - Penderel's Oak

London Islington - Angel

London Palmers Green - Alfred Herring

[Jules-and-Boo]

One of the last places to get normal priced food and drink

People are being priced out of areas.

[malumbu]

It's capitalism. The UK has long since got rid of price controls. Even Martin's cut price model, bulk buying, for beer close by sell by date, doesn't always work. The Capitol is unprofitable and has been up for sale on and off for ages.

It was hoped it would be used for an arts centre. Lewisham held out 30 years ago against Wetherspoons for the same reason was it was an abdoned bingo hall.

In its heyday as a cinema it was immensely popular helped by its good public transport.

[Dogkennelhillbilly]

Wetherspoons business isn't about buying short dated beer tho. You don't supply hundreds of pubs with hectolitres of Stella and WKD every week with leftovers.

[malumbu]

They sell a fair amount of ale though at such cheap prices so it will attract a certain demographic. Not sure how they can charge so much less than other pub chains, which will also have economies of scale. A limited Google got me no comprehensive answer

[Bob Buzzard]

Ironically I think it’s mostly due to Brexit.

[malumbu]

Emoji of bleeding heart

[imasnookercue]

Its a real shame this Forest Hill Spoons is likely to close. Obviously it is fashionable for middle class types to sneer at it (see examples above) and get high and mighty saying they dont like Tim Martin for various reasons, but it gives those who cannot afford £6.80 pints liike they serve in The Palmerston etc somewhere to go and have a cheap meal and a couple of drinks. That will be taken away from them.

[malumbu]

I expect most of us sneering middle classes will use Spoons from time to time to time. The reason we detest Martin is his views, which he is too happy to share. He may be no different to other pub chain bosses in terms of political belief, but we'd struggle to name them.

Not sure whether he has got the Brexit he wanted, but it appears to have done more harm than good to his business interests.

[Dogkennelhillbilly]

Its a real shame this Forest Hill Spoons is likely to close. Obviously it is fashionable for middle class types to sneer at it (see examples above)

 

It's the owner I sneer at. I was actually in among the feral youths, beggars, blaggers and general wasters (as you might call them) of the Spoons in Forest Hill a couple of days ago. Maybe we can meet for a pint there? I'm sure you're a nice person. PM me - quick before you get banned (again).

https://eastdulwichforum.co.uk/viewtopic.php?p=2069838#p2069838

[Earl Aelfheah]

Let's hope it doesn't become another church.

[imasnookercue]

Here it is. Not sure how the 'sale' works, but the lease is £108,000 a year.

https://www.rightmove.co.uk/properties/127459127#/?channel=COM_LET

[Penguin68]

What is being 'sold' is a 3 year (or so) lease at a current rental of £108k a year. It's the commercial equivalent of leasehold. I'm guessing that the new leaseholder might have first refusal on buying a longer lease, or renewing, once this one expires, depending on the terms of the lease. You are paying Wetherspoons for the 3 years (slightly less) of their current leasehold but would be paying the rental to the property owners.

[malcolmchurch]

Wetherspoons have been trying to sell this pub since 2015. All potential sales fell through as it is a listed building making it impossible to make any significant changes to the structure. Back in 2016 staff were told it had been sold to a cinema chain but sale fell through because of this. I believe lease expires in 2025 so wetherspoons are stuck with the capitol until then.