Rutland Arms landlord labels pub a 'money pit' as he gives keys back to Stonegate
A pub landlord is leaving after less than four months
Less than four months after taking over a pub in Southsea, the landlord is throwing in the towel, labelling it a ‘money pit.’
The Rutland Arms, in Francis Avenue, has had a turbulent past, with a break-in, an eviction and new management taking over all within the space of a year.
Now, new landlord Joel Wheeler — who took over the boozer in February this year — has announced he is handing back the keys to the Stonegate Group, which owns the site.
The 39-year-old previously told The News he wanted to take on the business because of its wasted potential following its abrupt closure in September 2025 after the fromer landlady was evicted.
Ahead of its re-opening, Mr Wheeler said he hoped to give something back to the community by hosting a number of events and community inititiaves including mother and toddler groups, charity evenings, darts, pool, live music and quiz nights.
But despite drawing in new customers, Mr Wheeler took to social media on Tuesday, May 26, saying: “Before the gossip starts, I thought I would shut it down with true facts. I have decided to give the keys back to Stonegate due the pub not financially working and is causing to be a complete money pit which is impossible to manage.
“I would to thank all the staff and all the entertainers and companies I have worked with the customers you have all been amazing.
The Stonegate Group currently has a listing on its website advertising the pub with an introductory rent of £20,000 for the first year.
A regional manager of Stonegate Group said: “This site is ideally positioned to capitalise on its proximity to both the university and the football stadium, attracting a diverse mix of students, sports fans and local residents.
“Matchdays and key sporting events provide a strong opportunity to drive footfall, supported by a simple food and bar snack offer from the ground floor kitchen.
“Success here will come from an operator who understands the local dynamics, can engage with different customer groups, and fully immerse themselves in the community. With the right approach, this pub has the potential to deliver consistent trade and strengthen its position as a go-to venue in the area.”
Stonegate Group has been contacted for more information about the new owner.
Joel Wheeler has also been contacted for a comment.