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One of London’s most famous pub theatres has gone on the market.
The Old Red Lion in Islington has played host to various famous playwrights and theatrical creatives over the years – current West End smash ‘The Play that Goes Wrong’ began its journey there, way back in 2012. There’s been a pub on the site since 1415 – when Islington was a rural village – but the theatre bit dates back to 1979, and it’s been a quietly influential destination since.
The Grade II-listed building has gone on sale due to owner Damian Devine wanting to move on after 25 years, rather than either the pub or the theatre being in any trouble.
For £450,000 you get pub, theatre, a two-bedroom flat, two bedsits and a trade kitchen – which would clearly be absolutely insane if you were to get the freehold, but it is in fact a 15-year-lease from freeholder Star Pubs & Bars and you will have to pay £80,000 a year in rent – subject to review every five years – so the vibe is very much not ‘wahey, cheap Islington pad!’. In other words, you have to be pretty serious about owning and running a pub theatre, which seems fair enough really.
If you’d like to buy the Old Red Lion, head over to its official page with Christie & Co.
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