For the past 17 years the Stag pub on Fleet Road has been one of the coolest in Belsize Park, hence the shock when news broke it was closing down due to the combination of rising costs and fewer customers common to so many pubs since the pandemic, writes Belsoc Committee member, Peter Wallace.
How could the doors close on such a well-known watering hole, previously an independent family-run business by brothers Jonathan and Andy Perritt, a venue where music fans packed in to hear their favourite bands over a beer in the pub’s garden ?
Only later were drinkers reassured the pub will re-open under the Young’s brand name, well known throughout London since it started in Wandsworth. Young’s was bought out by the brewing company Wells & Co of Bedford in 2011.
For some time, Wells & Co has been buying up pubs in London, Cambridge, Norwich and in France which prompts many to ask, “Why is it buying pubs in such difficult times for the industry ?”
The answer appears down to a change in business policy. When once Young’s would lease pubs and give each publican freedom to manage their pubs, Wells & Co now takes on the management role and – crucially – buys up each pub freehold.
By acquiring premium-sited, freehold pubs at a time when so many are up for sale, Wells & Co believes assets such as the Stag represent sound property potential in the future.
In the meantime Stag lovers are facing an estimated six months without their comedy nights and Sunday roasts while refurbishments take place.
Locals will be hoping the “new” Stag will retain the same free-wheeling attitude of the previous owners. Manager Alex Pride remembers the day the England and Tottenham star Peter Crouch came bounding into the pub hours after scoring his hundredth Premier League goal: “ Alex, I want 100 tequilas, no, not just for me, but for everyone in the pub, cheers everyone !”
Photos by Peter Wallace.
