The Newbury pub, in Bartholomew Street, is now available to let
An award-winning town centre gastropub is now available to let.
After months of trying to keep it afloat, Jamie Allen has now confirmed he will be stepping away from The Newbury pub in Bartholomew Street, which he has managed since 2022.
He told newburytoday the pub is currently still open for trading but that the current management is expected to leave by mid-July.
Mr Allen said: “We’ve tried so hard but now we just want out.
“[Greene King] have got to find someone else with very, very big pockets now, especially if they’ve got to compete with The Coat and Bear as well.”
Mr Allen only recently detailed the daily hardships and challenges publicans face in an interview with newburytoday.
But he is still involved in town centre eateries Chego’s, Pachangas and The Sushi Maki as well as the Hermitage pub, The Fox.
A spokesperson for Greene King said: “The Newbury is a much-loved pub in the local area, and we are advancing plans for a new partner to run the pub following the departure of the current tenants in July.
“We wish the tenants the best of luck in their future endeavours, and we hope to share a further update in the near future.”
The Newbury consists of a large downstairs area, a private dining area and an area upstairs with a covered external terrace, used for live music and open mic sessions.
The pub operates on a five-year turnover tenancy agreement, where tenants pay a fixed rent plus a percentage of their weekly net sales.
Its annual rent costs £40,000, or £769 a week, with a estimated annual turnover of £818,247.
The estimated entry cost is £37,750 – the upfront costs paid before new tenants can start trading.
