The Capitol.. Wetherspoons.

[Pugwash]

I believe that sometime ago a religious organisation wanted the premises but there was a lot of opposition from residents and Lewisham re parking and noise.

[OutOfFocus]

Take your choices. Beer quality, food quality, ambience.  Tend not to get all at same time.

[Dogkennelhillbilly]

As an aside, day-drinking cheapskates - I mean, those looking for a friendly tavern to replace the Spoons should have a look at The Hill around the corner. It had a sign up advertising a lager and an IPA at £3.95 a pint all day every day last time I passed.

[Jerrywest]

Any news guys? It seems to be that the Capitol will be turning into a new pub! But this has not been confirmed yet. Any and all new information would be greatly appreciated 🤘🏼

[Sue]

1 hour ago, Jerrywest said:

Any news guys? It seems to be that the Capitol will be turning into a new pub! But this has not been confirmed yet. Any and all new information would be greatly appreciated 🤘🏼

That's a massive space for a pub that isn't a Spoons!

Do you know what pubco (?) it is?

I'm guessing probably a chain rather than an independent, but I would dearly love to be wrong.

[Sephiroth]

Agree with Sue - seems unlikely that  the  whole space would operated by another pubco - it's massive (and not cheap)

 

Details still seem to be up on Savill's so not sure it has been acquired by another pubco

 

https://assets.savills.com/properties/GB0456L118507/dabf92f615b3ea6592283d295cc7b440-london-capitol.pdf

 

 

[Sue]

The lease expires September 2025?????

So in only around 18 months' time ?????

[Gloves]

All the pubs you mention are terrible! 

Service, food and beer choices. 

The only decent pubs in ED are: 

The Castle

Great Exhibition 

Watson General

The Herne

The Cherry Tree is a good station pub 

[Insuflo]

I think the lease is still held by Wetherspoons and they are responsible for paying rent and rates until late 2025. It’s the remainder of the lease that is for sale. Wetherspoons had been trying to sell the lease for the best part of ten years, so I’m guessing the place was never really profitable.

While the owner is being paid six figures by spoons for the next 18 months they have no need to worry, so the place will probably sit empty.

[OutOfFocus]

When did wetherspoons take out the lease.  Presumably at the time they thought it was a good deal.

[Insuflo]

I believe it is a 25 year lease, so that would mean it was taken out in 2000. Wetherspoons were trying to offload the place as far back as 2014 but there has never been any serious interest. It must have been a loss maker since at least then.