This 19th century pub on Hayling Island is looking for a landlord - here's how it could be yours

A HISTORIC pub on Hayling Island is looking for a tenant landlord.

Thursday, 17th October 2019, 10:47 am
The Olive Leaf on Hayling Island.

The Olive Leaf, in 48 Sea Front, could be yours to run for £3,750.

Pub-chain Ei Group, formerly Enterprise Inns and which owns the premise, are looking for an 'experienced’ landlord to take on the running of the pub. 

A spokesman for the Ei Group said: ‘The Olive Leaf is in a fantastic location, overlooking the sea, yet surrounded by good quality housing and a range of other business.

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‘This excellent pub provides the new operator with an opportunity to drive forward a successful business.’

The founder of the pub, who built the premises in the 1860s, founded and sailed on the island’s first life boat – also named the Olive Leaf. 

Enterprise Inns estimates start-up funding needed would be £12,250, with a rent of £15,000 per year.

In addition the new landlord will need to provide funds for professional advice and a level of working capital dependent on a business plan. 

The chain is open to discuss purchasing options, tie release fees being applicable.

The main bar has seating for approximately 10 guests, with a raised dining area that can accomadate 30 covers.

There are two bedrooms requiring redecoration on site, featuring a lounge and kitchen.

The Ei Group has 4,000 pubs and properties across the country, including eight across the Solent region. 

The company has been in talks to be bought by Slug and Lettuce owners Stonegate in a £1bn takeover, but the UK’s competition watchdog announced it would investigate the merger on Friday.