Traditional Southsea pub set to close with rising energy costs blamed
A Victorian pub restored by an antique dealer that reopened under a wealth of experienced business partners is set to close its doors - with rising energy costs blamed for the move.
The Eldon Arms, in Eldon Street, Southsea, will close on 1 February with the search for a new tenant to the Stonegate-owned pub already underway.
The pub was taken over in 2023 by antique dealer Razvan Ionascu, pub landlord Ross Macinally and restaurateur Carlo Vaccaro. The pub underwent an extensive refurbishment with its large beer garden spruced up amid a flurry of excitement ahead of the reopening in July 2023 - after the pub had been shut for three months.
A social media statement announcing the closure next month said: “We are sorry to inform you that we have decided to leave and close the Eldon Arms. This will take effect from 1 February.
“We wish to thank you for your continued support. We have not taken this lightly but due to rising costs of energy we have little choice.”
The closure comes despite the trio’s wealth of experience in the sector with Razvan running Sally Antiques in Old Portsmouth, Ross working as the landlord of the Jolly Sailor in Southsea and Carlo’s family running numerous restaurants in the area including O Sole Mio in Port Solent.
Ross said at the time: “We've cleaned it and brought it back to life. I remember this place as being a family hub where people used to love to eat and spend time in the garden. There were various pub games and the atmosphere was always very friendly.”
Stonegate has already put an advert up looking for a new tenant to the pub it says has an annual forecast turnover of £278,137 with a ground rent of £480 per week.
The advert reads: “This one-bar operation retains a traditional pub ambience, with many original features including wood-panelled surrounds and feature fireplaces. The main bar area offers pub games, large TVs and a darts throw to entertain the local sports enthusiasts.
“The area is large and open plan, with twin bay windows that create a light feel within the rooms. There is room to accommodate up to 70 covers throughout and a fully fitted trade kitchen provides the potential to serve traditional pub classics or a more varied snack menu.”