Rent Hike Causes Pub Closure

TruscottA London gastro pub has been forced to close after the operators lost their battle to stop a £175k increase in the rent.

Truscott Arms owners Andrew and Mary-Jane Fishwick closed the pub with immediate effect following the termination of their legal struggle with a private, overseas landlord to stop the rent increase going ahead.

The rent has now increased from £75,000 a year to £250,000 a year.

The Fishwicks said that the huge increase combined with a backdated rent demand of £330,000, made their business “untenable”.

In a statement, they said: “We are incredibly proud of all that the Truscott Arms means. Not just because we created an exceptional, award-winning pub, but because we built a meaningful hub in our community. A hub that was run with passion by a loyal, dedicated team for all of our guests.

“It is with exceptional, profound devastation that we are closing the doors. We love this place, we love its soul and all of you who have contributed to it.

“We are exploring new projects and new sites and we will continue to work hard to promote this important industry and care about the issues faced, so that British public houses are protected.

The pub won several awards, including the Sustainable Restaurant Association’s (SRA) Sustainable Pub of the Year and Best British Roast Dinner pub 2014 in a guide by Unilever Food Solutions. This year, Andrew Fishwick was also shortlisted in the BII’s Licensee of the Year Awards.