Two London pubs go back to their roots

19 October 2010
Sydney Arms, Lewisham

Two London pubs go back to their roots

An old tradition is being given a new twist, according to licensed leisure specialists AG&G, who have just sold two Greater London pubs to developers for conversion into budget accommodation.

The Sydney Arms in Lewisham, and the White Bear in Hounslow are among a growing number of licensed properties in Greater London that are going back to their roots, explains AG&G’s Panayiotis Themistocli.

“At a time when affordable accommodation in London is at a premium, pubs have a lot going for them as potential hotels or hostels because they often have historic permission for letting rooms and B&B’s,” he says.

“These two pubs are among a number we have sold for this use in the last year. They may not be viable as traditional pubs any longer but they are substantial properties in convenient London locations with good transport links, so they catch the eye of market-savvy investors.”

The Sydney Arms, in the heart of Lewisham, SE13, sold off a guide price of £425,000 plus VAT, while the White Bear – once a celebrated music venue – fetched more than £100,000 over its guide price of £550,000 for its former owners, Fuller’s.

For more information, contact Panayiotis Themistocli on 020 7836 7826, e-mail pt@agg.uk.com or media@agg.uk.com.