Wetherspoon announces update as new pub set to open next week after £2.8m investment

Wetherspoon is to open a new pub at London Waterloo station next week on Tuesday, September 3.

The Lion & The Unicorn will open in The Sidings, within the former Eurostar terminus, on Tuesday, September 3, the pub group said.

Wetherspoons said: “The new pub will specialise in real ales and traditional ciders, as well as craft and world beers, serving a wide range of different draught ales, as well as bottled beers, including those from local and regional brewers.”

The pub will be open from 6.30am until 12am Monday to Thursday, from 6.30am until 1am on Fridays and Saturdays, and from 7.30am until 12am on Sundays.

Barry Brewster, Wetherspoon regional manager said: “We are looking forward to welcoming customers into The Lion & The Unicorn and we are confident that the pub will be a great addition to Waterloo’s social scene.”

The £2.8million investment was spent redeveloping the new, which was inspired by the “historic architecture” that made The Lion And Unicorn Pavilion a fan favourite at the Festival of Britain in 1951.

The opening comes after Brewdog launched its flagship site at the station in 2022, which was at the time the UK’s largest pub.

Wetherspoons has trimmed the size of its pub estate in recent years, selling or surrendering the lease on 26 of its outlets since November.

However, it stressed last month that it is still aiming to grow its portfolio of 801 venues to 1,000 sites in the longer term.

In the past year, Wetherspoons has opened two pubs but sold or surrendered the lease on 26 pubs.

The chain is set to close 61 of its venues by the end of 2024, impacting numerous locations across the UK.

The group, which currently has an estate of 801 pubs, said it has largely disposed of venues which are “smaller and older”, or where it has another site in close proximity.

As well as Waterloo, they are set to open new pubs at Fulham Broadway and in Marlow, Buckinghamshire, in the coming months.

However, some venues have been sold off amid efforts to reduce its debt burden.

Wetherspoons like-for-like sales increased by 5.8 per cent in the 10 weeks to July 7, despite unseasonably wet weather over this period.

Tim Martin, chairman of JD Wetherspoon, said: “The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year. Total sales are, again, at record levels, with fewer pubs.

“Sales per pub are approximately 21 per cent higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs.

“For example, compared to the 2019 financial year, labour in this financial year has increased by approximately £164million, energy by £28million, repairs (also affected by labour costs) by £38million and interest (excluding IFRS 16 interest) by £16million.”