Historic Punch Tavern pub in Fleet Street sold

By Fred A'Court

- Last updated on GMT

Landmark deal: historic pub the Punch Tavern has been sold to Urban Pubs & Bars
Landmark deal: historic pub the Punch Tavern has been sold to Urban Pubs & Bars

Related tags: Public house, Tavern, Bar

One of central London’s historic landmark pubs, The Punch Tavern, has been sold to Urban Pubs & Bars in an ‘off market’ deal.

The confidential marketing deal for the lease represents the 13th purchase in the capital by Urban Pubs & Bars, the company founded by Nick Pring and Malcolm Heap following the £50m sale of their former company Realpubs to Greene King.

William Langton, an agent from Christie & Co’s London office, which brokered the deal, said the positive interest taken in the sale shows there is an appetite to acquire tied pubs in central London despite concerns over market-rent-only options and the national living wage.

Demand defies the odds

“Central London continues to defy the odds with plenty of demand for reasonably priced assets,” he said.

He added there is always demand for a central location if the building is good and the price fair.

Commenting on the purchase Heap said: “As a grade II-listed building, its charm and historic features will be maintained and enhanced as we seek to create what we spent many years doing in our past company, a real pub in the heart of the city with a true independent feel, offering a concise, no-frills menu around fresh, seasonal produce.” 

Victorian satirical magazine Punch

The pub has a number of historic associations. It is said to be the place where the original owners of Punch Taverns decided on the name for their new business and, indeed, they still own the freehold.

The staff of the Victorian satirical magazine, Punch, used to meet at the pub when it was called the Crown & Sugar Loaf, and became so associated with them that it was eventually renamed Punch Tavern.

Based in Fleet Street it was, later, a meeting place for journalists when national newspapers were located in the area.

Once a 17th century inn

An inn has been on the site since the 17th century, being mentioned in the diaries of Samuel Pepys, and in the late 19th century it was refitted as a gin palace with a shop-counter type bar, beer pumps, ornate mirrors and etched glass that became the style synonymous with Victorian pubs.

Urban Pubs & Bars confirmed that it would add ‘a little sparkle’ to the pub, and sell a great selection of beers alongside a fantastic selection of gins.

Interested in running your own pub? Then take a look at our pubs for lease and tenancy on our property site.

Related topics: Property law

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