The Clarence in Stoke Newington, London has been sold through Christie & Co for £125k.
Built in 1860, the pub has been owned by the Yummy Pub Co since 2015, at which time its original title was restored. The pub occupies a prominent position in the North London village of Stoke Newington, within a popular and densely populated residential area in the main commercial centre and benefits form all-day trade.
Internally, the public trade areas are of a good size and provide various architectural features including high ceilings, exposed brick walls and flooring. There is a lounge bar and dining area on the ground floor and a bar, private function room and beer cellar on the lower ground floor.
The upper floor areas consist of a first-floor function room and second floor owner’s accommodation. The current food offering includes British Tapas style food and cocktails, in addition to larger dishes of pork ribs, burgers and fish & chips. Additional revenue is derived from the upper floor function room as well as a basement bar, which is regularly used for private events and has the benefit of a 2am licence.
The new owner, Robert Webster Shaw is an experienced operator who owns another Charles Wells leased business in London; the Anchor and Hope and has other business interests in The Canton Arms, and the Magdalen Arms in Oxford.
Co-Founder, Anthony Pender of Yummy Pubs expressed his thanks to Stewart and the Christie & Co team, “An efficient sale process means that we can now focus our continued growth through Freehold acquisition, which has also been supported by Christie & Co with advice and services in 2019 relating to the purchase of the Freehold interest in The Wiremill Inn, making our first site 13 years ago our first freehold conversion.”
Stewart Harkness, Director at Christie & Co, handled the sale and comments, “this has been a great opportunity for the purchaser to add to his portfolio and shows that the pub market is still strong when we are looking at selling quality pubs.”