The New Cross Inn is up for sale. Christie + Co have been instructed to obtain bids for the pub / live music venue on New Cross Road with a price tag of £1,200,000!
The press release says “The investment is split into two distinct businesses and has recently undergone an overhaul with capital expenditure of £80,000. There is a ground floor and basement, a live music bar with a 10-year free-of-tie lease and a current rental income of £36,000. The upper floors are presently operated as a hostel with 80 beds, a 10-year lease and a rental income of £60,000.”
I can only hope whoever ends up buying it keeps it running as a pub and venue, and it doesn’t fall in to the hands of Tesco’s.
If anyone is interested I’ll be willing to chip a bit for it – I can only afford about £20 though, its getting pretty close to Christmas.