Old Red Lion pub and theatre in Islington up for sale
Several historic London pubs are currently on the market, but only a handful include a renowned fringe theatre. The well-known Old Red Lion pub and theatre in Islington, located on St John Street, Angel, is seeking new operators with a price tag of £450,000. The sale is managed by property adviser Christie & Co, offering a new part-tied 15-year lease from Star Pubs & Bars.
While the Grade II listed pub has undergone rebuilding and modifications over the years, it is believed to be one of London’s oldest drinking establishments. Historical records suggest a pub named the Redde Lyon existed on the site since 1415, with concrete evidence of a Red Lion by 1522. Renowned figures like Samuel Johnson, Thomas Paine, and artist William Hogarth were regular patrons, with Hogarth even featuring the Red Lion in his painting Evening.
The current building, dating back to 1899, has its own share of history, with anecdotes of Russian leader Vladimir Lenin paying the landlord to open the dumb waiter for eavesdropping on communist meetings in the upstairs room. Over time, this upper space transformed from a boxing ring to a black box theatre under the ownership of Pauline and Tony Sheriff-Geary in 1979.
Established by Charlie Hanson, The Old Red Lion theatre has hosted numerous productions, including award-winning performances such as the original production of The Play That Goes Wrong, Arthur Miller’s No Villain, and works by renowned writers and directors like Abi Morgan, Joe Penhall, Kathy Burke, Stephen Daldry, and Penelope Skinner.
Brothers Damien and Lorcan Devine, who took over the lease in July 2000, are now selling the property. The pub encompasses an 80-cover ground floor bar, a partially covered outside terrace for 20, a self-contained flat for staff, and a fully equipped theatre with seating for up to 60. Despite its reputation as a primarily ‘wet-led business’ known for real ales, the pub also boasts a commercial kitchen, providing opportunities for expanding into the food trade.
David Wilson, the Business Agent at Christie & Co overseeing the sale, expressed that The Old Red Lion presents a rare and enticing opportunity for new operators to manage a well-established pub with an attached theatre. This unique combination offers multiple income streams, including one of London’s few remaining pub theatres.
