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In-depth: the pubs bought with off-shore cash

PUBLISHED: 17:36 16 September 2016 | UPDATED: 11:44 17 October 2016

Save the Black Cap demo in Camden Town 09.04.16. Supporters pictured include former MEP Ms Nikki Sinclair (in blue scarf behind the table), and cabaret star Al Pillay (wearing black behend table).

Save the Black Cap demo in Camden Town 09.04.16. Supporters pictured include former MEP Ms Nikki Sinclair (in blue scarf behind the table), and cabaret star Al Pillay (wearing black behend table).

Archant

As part of our investigation, we reveal the details of the pubs in Hampstead, Highgate, Primrose Hill and Camden bought with offshore cash

11 Princess Road (2010) Prince Albert Pub11 Princess Road (2010) Prince Albert Pub

Pub: The Prince Albert, Primrose Hill
Buyer: TXL Capital Ltd in the British Virgin Islands in February 2014
Price: £2,080,000
What happened next: The top floors have been 
developed into flats and a planning bid to build a house in the beer garden was refused by Camden Council in July last year after heated opposition from the community. The pub is listed as an Asset of Community Value but has been closed since January 2015.

 

The Magdala. Picture: Polly HancockThe Magdala. Picture: Polly Hancock

Pub: The Magdala Tavern, Hampstead
Buyer: Bow Capital Ltd in the British Virgin Islands in April 2014
Price: £2.1million
What happened next: The upstairs floors of the historic pub were turned into flats in March 2015, six months after it was listed as an Asset of Community Value. In June this year a protester appeared in court charged with daubing graffiti on the doors branding the owners “philistines and tossers”. Silks and Silent Witness actor Neil Stuke has formed a lobby group to try and protect the pub from development.

 

The new owner of the Winchester Hall Hotel in Archway Road has confirmed his plans to keep a pub on the site. Picture: Nigel SuttonThe new owner of the Winchester Hall Hotel in Archway Road has confirmed his plans to keep a pub on the site. Picture: Nigel Sutton

Pub: The Winchester Tavern, Highgate
Buyer: GFO Capital Ltd in the British Virgin Islands in October 2013
Price: £2million
What happened next: Sections of the 130-year-old pub have been converted into flats and residents continue to fight to stop further development. The pub was listed as an Asset of Community Value in 2014 but has been closed since it was bought by GFO Capital. More than 700 people have signed a petition to save it.

 

Pub: Ye Olde White Bear, Hampstead
Buyer: Braaid Ventures Ltd in the Isle of Man in July 2013
Price paid: £1,575,000
What happened next: A bid to turn the 18th century pub into a six-bedroom townhouse was thrown out after a concerted community campaign that won the backing of comic Ricky Gervais and actors Peter Egan and Dominic Cooper. In June Camden Council launched legal action against the owners to take down scaffolding or start work on the derelict pub. The pub is listed as an Asset of Community Value.

 


Pub: The Black Cap, Camden Town
Buyer: Kicking Horse Ltd in Jersey in November 2010
Price paid: £11,469,999
What happened next: A dogged campaign to save the iconic LGBT venue from being developed into flats was successful. Despite this, the pub’s doors shut in April 2015 just weeks after it is listed as an Asset of Community Value. Weekly protest vigils continue outside the Black Cap every Saturday and more than 8,500 people have so far signed a petition calling for it to be saved.

 

The Victoria pub in Highgate was bought by a Cyprus-based company that has an extensive property portfolio across London in 2013The Victoria pub in Highgate was bought by a Cyprus-based company that has an extensive property portfolio across London in 2013

Pub: The Victoria, Highgate
Buyer: MJP Properties Ltd in Cyprus in October 2013
Price paid: £997,777
What happened next: The Victoria is open and trading.

 

Pub: The Castle Hotel, Child’s Hill
Buyer: Tarves Ltd in the Isle of Man in October 2012
Price paid: £24million
What happened next: The pub closed in December 2012 and in 2014 Barnet Council gave the green light to plans to flatten the live music venue and replace it with a block of nine flats. Campaigners had hoped to save the 19th century pub by having it listed as an Asset of Community Value, but the bid was rejected.

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