Jazz pub hit by closure to reopen again

A PUB in the Capital that was well-known for its live jazz music is set to be reopened for the second time in a year.

Eighty Queen Street has fallen victim to the credit crunch twice but is now on the brink of being snapped up by a new operator and reopened.

The New Town pub, which is within an A-listed Georgian building on the corner of Queen Street and North Charlotte Street, was open for only seven months before management firm London Town Pub Company fell into administration.

But it is now under offer, with a deal involving a buyer with "a good track record" in pubs expected to be completed next week.

The problems at the pub – which was known as the Drum & Monkey for eight years before being opened as the Eighty Queen Street bar and restaurant in 2001 – are seen as a sign of the wider pressures facing pubs.

Patrick Browne, chief executive of the Scottish Beer And Pub Association, said: "This proves the point that when a pub closes, even for a relatively short time, it loses customers and once it goes, it is difficult to get these customers back.

"Eighty Queen Street is a good premises of a pretty good standard in a good area in terms of potential customers. It proves that if it is struggling then other pubs that don't enjoy these benefits will struggle even more.

"Economically, there is a lot of uncertainty out there. Having said that, if a pub is well run and makes itself attractive to customers it can still do well.

"Eighty Queen Street is well remembered as the Drum & Monkey and it has a strong history as an entertainment venue. Having a jazz venue in your cellar is certainly an advantage and will help in finding a new operator."

The bar closed for the first time in October 2008 when licensee Dario Pacifici, who had promoted a la carte eating in the bar, said he couldn't cope with rising rates and bills at the same time as slowing consumer spending.

London Town Pub Company took over managing the pub for owner Punch Taverns in July 2009, along with a number of other Punch premises.

It, however, ran into its own difficulties and fell into administration in February, with many of the leases of the pubs reverting to Punch Taverns, which put Eighty Queen Street back on the market.

Tom Nichols, of selling agent Everard Cole, said: "It is quite a rare prominent site within a big traditional area and is a good chance for someone to come in and own the freehold and take it forward as they want. There is huge scope to build on its food and entertainment offering.

"I can't say too much at this stage (about the potential buyer] but we hope it progresses quickly. It is being bought for its existing use and it is someone with a good track record."

A spokeswoman for Punch Taverns said: "The pub is under offer and we anticipate that a sale will complete next week."