Popular Brighton pub sold for £4.5m

The Lion and Lobster pub in Brighton has been sold to a London company for £4.5 million.

The pub, in Sillwood Street on the corner of Bedford Place, has been owned by the Irish actor Gary Whelan for 13 years.

It has been bought by the City Pub Company, which is based in London.

The price is believed to be the highest paid for a pub in the Brighton and Hove area.

According to the hospitality trade publication M&C Report, the Lion and Lobster turned over £2.4 million last year.

Mr Whelan, who appeared in The Bill, Eastenders and Ballykissangel, bought the pub in July 2001 for almost £1 million.

The City Pub Company was set up by experienced pub and drink trade veterans Clive Watson, David Bruce and John Roberts.

Mr Watson ran the Capital Pub Company which was sold to Greene King for £70 million three years ago. He also co-founded the Tup Inns chain.

The buyer was advised by licensed trade specialist AG&G, with James Grimes, who comes from Brighton, leading on the deal.

Mr Grimes said: “Essentially they (the City Pub Company) want to stick with the formula that has made the pub such a success over the years.

“As a quality, traditional pub with a reputation for delicious food, it will fit perfectly with their portfolio of carefully selected properties.”

The Lion and Lobster was formerly known as the Olive Branch and the Rockingham.