EXCLUSIVE: LOCAL COMMUNITY SECURES PURCHASE OF THE LION PUB IN TEDDINGTON
The popular pub, The Lion in Wick Road, Teddington, which has been closed for over TWO years, is set to reopen before Xmas following a massive effort by the local community, Teddington Town has learned.
A total of fifteen local investors with the help of extra financing has raised the necessary amount to purchase and save the pub’s future which had been on the market for £950.000.
The much-loved pub was closed for more than two years and its future was uncertain until the community stepped in and launched its massive fund-raising campaign with various local events gathering support for the project.
One of the investors, Peter Scott, the managing director of a media and events company, who lives in Wick Road, says the pub will need a significant refurb but is hopeful it will reopen before Xmas.
In effect, the pub has been purchased from operators Stonegate and will be owned by a limited company run by various community shareholders but a separate management team will be responsible for the day to day running of the pub.
Delighted Peter added: “We are really pleased with the outcome. I moved to Teddington in 2022 and the proximity of a great local pub like the Lion was part of the attraction and then it closed.
“It’s the closest pub for about 1000 people and within walking distance for those who value the pub both practically and emotionally and who were really concerned it would be lost to some kind of development scheme.
Peter was supported in his efforts by fellow investor Gareth Coady, who works in marketing in the pharmaceutical sector and also lives locally.
Peter added: “We have successfully protected an important community asset for the sake of the community.”
As a community pub The Lion will be a ‘free house’ which allows it to stock any beers or ales it chooses but the new owners will be supportive to local suppliers in the area.
Although it’s early days The Lion will aim to offer ‘traditional’ pub food with fresh ingredients for families. “We want to be a pub for everyone, “ added Peter.
A social media post over the weekend said: “It’s official! The pride of Teddington, The Lion Pub is to reopen in November after being closed for a few years.
“The hope is that this will become a community hub as much as a community pub.
”We merry bunch of locals want this local to be more than a community pub, a community hub and less of a boozer!”
The pub, which has four bedrooms available as accommodation, has a main bar at the front of the pub, with a larger area at the back and a lounge/restaurant which can seat 120 people and a large garden with wooden tables with space for another 100 customers.
The pub was on the market with a specialist pub estate agent for £950.000. The estimated turnover historically was over £600.000.
The pub, which dates back to 1876, was owned and operated by Stonegate Pub Partners, which was also responsible for the marketing and the eventual sale of The Builders Arms in Field Lane and later sold to a local businessman for £800.000 and finally reopened last November and where business is currently booming with plenty of support from the community.