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The pub’s owner, Bar 24 Ltd, which is a subsidiary of Lazarus Properties, said it had agreed to purchase the property from the EI Group before the spillage but the sale was only completed afterwards.
A spokesman for the firm said the dumped chemicals consisted primarily of the solvents acetone, toluene and methylene chloride, and when a surveyor visited to assess the damage they had to cut the visit short as the fumes coming from the basement were so overpowering.
The pub was demolished on May 8 (pic: Candy Wilson)
A structural survey concluded that ‘the life expectancy of the building has expired’.
London-based operator Young & Co s Brewery has appointed Savills to handle the potential sale of its tenanted pub business.
The tenanted arm of Young’s, known as the Ram Pub Company, comprises just over 50 pubs, and accounts for 5% of total revenue. Its managed pubs division comprises in the region of 200 sites.
The pub company made the statement to the London Stock Exchange following a report by Sky News explaining that it had appointed the property agent about the potential sale of its tenanted estate.
“The Company confirms that Savills has been appointed and that it is in discussions regarding a possible sale,” it said.
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