{"id":347431,"date":"2025-08-15T20:44:14","date_gmt":"2025-08-15T20:44:14","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/347431\/"},"modified":"2025-08-15T20:44:14","modified_gmt":"2025-08-15T20:44:14","slug":"queen-of-the-south-landlord-must-raise-500k-after-deal-reached-to-buy-pub","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/347431\/","title":{"rendered":"Queen of the South landlord must raise \u00a3500k after deal reached to buy pub"},"content":{"rendered":"

At present Young’s owns 50% of the lease and 100% of the freehold.<\/p>\n

Mr Ogbonnaya said he had agreed a fee with Young’s to buy the freehold and their 50% of shares in the company that owns the lease, as well clearing all loans owed to them.<\/p>\n

He said on Instagram, external<\/a>: “We wish to raise \u00a3500,000, to complete the purchase of the freehold.<\/p>\n

“And in return give an agreed percentage of said freehold as well as a percentage of operating profits of the business.”<\/p>\n

The money must be raised by 30 September for the deal to go ahead.<\/p>\n

Mr Ogbonnaya previously told BBC London<\/a> the venue was named in homage to his mother, wife and two daughters and had replaced the White Hart pub, which needed a new roof, was infested with rats and had rotting floors.<\/p>\n

He said: “We’ve got rid of that ugly tooth on the high street and created a communal space as a hub, a meeting place, a place to celebrate, a place to mourn, a place to share ideas.”<\/p>\n

He added: “It would be a massive shame for this pub to become a Lidl or something else. <\/p>\n

“We’re finally finding our feet. The Queen of the South needs to exist.”<\/p>\n

A spokesperson for Young’s said: “We are pleased to have reached a positive solution with Clement which will allow him to independently run the Queen of the South pub.<\/p>\n

“As we have said previously, it has always been our intention that this pub remain independent to best serve its community, and we sincerely hope the pub will continue to thrive.”<\/p>\n