The Newbury pub is on the market as managers negotiate budget with Greene King. Future uncertain, but pub remains currently open.
The pub has a big downstairs area and features a private dining space. Upstairs, there’s a covered terrace used for music and open mic nights. Aaron D’souza and Jamie Allen, who started in 2022, currently manage the establishment.
Aaron says new budget costs are too high to keep running the pub. They estimate an extra £25,000 to £35,000 on top of what they already pay. The business feels impossible to sustain, even with them using their own money to help.
Greene King wants to see if others are interested, and then they might make the current managers another offer. The pub will stay open for now, but the managers might be different, meaning Aaron and Jamie might leave.
They took over from Pete Lumber, who ran the pub for ten years. The pub’s deal is a five-year turnover tenancy, where tenants pay rent and a sales percentage.
Yearly rent is £40,000, equating to £769 weekly. Its estimated turnover is £818,247 yearly, and entry costs around £37,750, covering initial expenses for new tenants.
Greene King seeks someone enthusiastic who loves hospitality. They want someone to improve the business through marketing and maximizing sales, with live entertainment also being important.
The pub was previously a top-rated Berkshire eatery, receiving many great reviews. People gave it over 700 four or five-star ratings on TripAdvisor.
