The crisis that's calling time on London's pubs

More of the capital’s watering holes are being sold off and made into homes. Is it closing time for the traditional pub

- Charlotte Duck

It could be last orders for six more London pubs set to go under the hammer this month. The hostelries — one of them a renowned gastropub — face an uncertain future and could be converted into residences. The current owner, DN Private Equity Canary Wharf Limited, is putting the six pubs up for sale on My Auction on May 16 and 17, with reserve prices ranging from £1 million to £1.65 million. The vendor believes that they could all be converted into flats, with some being luxury accommodation, if the necessary planning permission is granted.

“Freehold public houses have been very popular lots at auction because of the flexibility they offer an investor as well as the long-term future development potential,” says Stuart Collar-Brown, founder and director of My Auction. “I have seen many similar opportunities converted into self-contained apartments or even demolished to create larger-scale residential developments.”