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16-12-2013, 08:57
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There's a single document relating to James Hole in the London Metropolitan Archives. It's the valuation made for Courage Barclay Simonds in February 1968, presumably in preparation for their bid for the brewery.

It's revealing in several ways. First and foremost it shows how much of the brewery's capital was tied up in pubs. Pubs accounted for 86% of the valuation. Of course, it was the pubs that Courage were primarily after. 207 of them in all.

That's one of the reasons the whole merger thing started in the 1950's. Financial analysts noticed how poor the return on the capital was at most breweries. Because a tied estate amounted to a huge amount of capital compared to the size of the business. It's a strange model. When I was younger I wasn't aware that the enormous pub estates of brewers had a political origin.

Brewers had owned some pubs for a long while. In the 18th-century London Porter brewers like Whitbread and Barclay Perkins had already built up estates of pubs. But the majority of pubs remained outside the ownership of brewers. It was only at the end of the 19th century, when changes to the licensing regime made it virtually impossible to get a new licence and local authorities were actively trying to reduce the number of pubs, especially beerhouses.

This is how much the number of pubs fell:



Pubs in England & Wales


Date
Full
Beer / wine
Total Pubs


1895


103,341


1900


102,189


1905


99,478


1910
64,129
28,355
92,484


1914
62,104
25,556
87,660


1920
60,021
23,411
83,432


Source:


Brewers' Almanack 1971, page 83.



I make that a fall of over 19% between 1895 and 1920. Very considerable. Especially when you consider than between 1891 and 1921 the population of England and Wales grew from 29,001,400 to 37,886,700 - an increase of 30%.

With a dwindling number of potential outlets breweries began to buy every pub that they could. The process was financed from the capital raised when breweries moved from being partnerships to limited companies. It lead to ridiculous prices being paid. In the 1890's, pubs in the East End of London were selling for £10,000, £20,000 or even £30,000. With a pint of beer cost just 2d (so you'd get 120 pints for £1) those are astronomical sums.

Here's a summary of the valuation:



Freehold pubs
£3,610,300


Leasehold pubs
£230,850


total pubs
£3,841,150


Freehold off-licences
£83,700


Leasehold off-licences
£3,400


The brewery
£474,600


Detached unlicensed properties
£35,800


total
£4,438,650


Source:


Document ACC/2305/41/1 held at the London Metropolitan Archives



Holes Castle Brewery surprisingly remained open until 1982. Looking at it now, it seems unlikely that it should have hung around so long. John Smiths closed Warwicks & Richardsons, the other Newark brewery, virtually immediately after taking control. I wonder why Holes survived so long?

I'd love to know what the Castle Brewery's capacity was. When originally constructed in the 1890's, it brewed about 50,000 barrels a year. In the 1980's they were still using the same brewhouse and I don't believe that it had been extended. My guess would be that it was no more than 200,000 barrels at the very most.

Anyway, here's the full list of Holes pubs, along with their value. It's sad to think that the Robin Hood Hotel, one of their most valuable pubs, is currently abandoned and crumbling, and despite being listed, likely to be demolished.



James Hole tied houses by county


Pub
Street
Village
Town
County
Value


Red Lion
High Street,

Alfreton,
Derbys.
19,200


Station Hotel
Mansfield Road,

Alfreton,
Derbys.
27,300


Blue Bell

North Wingfield,
Chesterfield,
Derbys.
12,700


Commercial

Pilsley
Chesterfield,
Derbys.
19,500


Three Horse Shoes

Clay Cross,
Chesterfield,
Derbys.
9,400


New Inn


Newton,
Derbys.
5,700


Woolpack


Shirland,
Derbys.
9,700


Egyptian Queen
Cedar Road,

Blaby,
Leics.
35,000


Cocked Hat
Cropatch Drive,

Coalville
Leics.
40,000


King William IV


Countesthorpe,
Leics.
12,500


Fountain Inn
Humberstone Gate,

Leicester,
Leics.
32,400


Golden Age
Ramsey Way,
Netherhall Estate,
Leicester.
Leics.
43,200


Hare & Hounds

Whitwick,
Leicester.
Leics.
5,200


Marten Inn
Marten Street,

Leicester.
Leics.
21,300


Pineapple
Burleys Way,

Leicester.
Leics.
33,500


Royal Oak

Wigston Fields,
Leicester.
Leics.
56,000


Sir Charles Napier
Glenfield Road,

Leicester.
Leics.
42,000


Swan & Rushes
1, Infirmary Square,

Leicester.
Leics.
12,700


Tudor Rose
Holderness Road,
Mowacre Hill Estate.
Leicester.
Leics.
60,000


Wyvern Arms
Kerrysdale Avenue.

Leicester.
Leics.
39,000


Cherry Tree
Hume Street,

Louborough,
Leics.
19,700


Sea Around Us
Ashby New Road,

Loughborough
Leics.
84,000


Curzon Arms

Woodhouse Eaves,
Loughborough,
Leics.
23,000


Generous Briton

Costock,
Loughborough,
Leics.
7,000


Nags Head

Mountsorrel,
Loughborough,
Leics.
8,600


Kings Head Hotel
Mercer Row,

Louth,
Leics.
30,700


George Inn

Ashley,
Market Harborough,
Leics.
7,700


Plough Inn

Caldecott,
Market Harborough,
Leics.
11,000


Burmese Cat
Hartopp Road,

Melton Mowbray,
Leics.
37,000


George Hotel
High Street,

Melton Mowbray,
Leics.
65,000


George & Dragon

Waltham-on-the-Wolds
Melton Mowbray,
Leics.
6,700


Royal Horse Shoes

Waltham.
Melton Mowbray,
Leics.
18,000


New Inn
64, London Road,

Oadby,
Leics.
25,800


Cock inn


Peatling Magna,
Leics.
9,000


Crown Inn


Osgodby,
Lincs.
5,800


Black Horse


Alford,
Lincs.
5,100


George Hotel


Alford,
Lincs.
7,200


Butchers Arms


Ancaster,
Lincs.
9,000


Fosseway


Aubourn,
Lincs.
41,500


Black Horse


Bardney,
Lincs.
8,400


Blue Bell


Belchford,
Lincs.
3,700


George & Dragon


Billingborough,
Lincs.
6,700


Marquis of Granby


Binbrook,
Lincs.
14,000


Bell


Bishopbridge,
Lincs.
9,600


Kings Head
Emery Lane,

Boston,
Lincs.
30,000


Moores Arms

Frampton,
Boston,
Lincs.
5,600


Queen of Spades
Wellington Road
Woad Farm Estate,
Boston,
Lincs.
37,000


Axe & Cleaver

West Street,
Boston,
Lincs.
54,000


Cross Keys
Wide Bargate,

Boston,
Lincs.
20,000


Half Moon
57, Heaton Street,

Gainsborough,,
Lincs.
18,200


Chequers inn
25, Market Place,

Grantham,
Lincs.
14,000


Cross Swords

Skillington.
Grantham,
Lincs.
5,500


Glaziers Arms

Corby,
Grantham,
Lincs.
5,500


Green Man

Ropsley,
Grantham,
Lincs.
5,600


Royal Oak

Swayfield,
Grantham,
Lincs.
3,500


Royal Queen
Belton Lane,

Grantham,
Lincs.
30,000


Three Tuns

Castle Bytham,
Grantham,
Lincs.
4,500


Welby Arms

Allington,
Grantham,
Lincs.
8,600


White Hart Hotel
High Street,

Grantham,
Lincs.
50,000


Woodhouse Arms

Corby.
Grantham,
Lincs.
8,000


Angel Inn

South Witham.
Grantham,
Lincs.
6,000


Welby Arms

Denton,
Grantham,
Lincs.
6,500


Waggon & Horses

Caythorpe,
Grantham.
Lincs.
11,000


George & Dragon


Hagworthingham,
Lincs.
7,000


Fighting Cocks


Horncastle,
Lincs.
6,800


Ship Hotel


Horncastle,
Lincs.
4,400


Elder Tree


Horsington.
Lincs.
3,700


Black Horse
6. Eastgate,

Lincoln
Lincs.
13,800


Black Horse

Nettleham,
Lincoln.
Lincs.
11,400


Ivy Tavern

Newport,
Lincoln
Lincs.
11,000


Crown Inn

Glentham,
Lincoln,
Lincs.
7,700


George Hotel

Langworth,
Lincoln,
Lincs.
36,600


Lord Nelson

Dunholme,
Lincoln,
Lincs.
19,000


Star & Garter

Metheringham,
Lincoln,
Lincs.
28,400


Wild Life
Birchwood Avenue,
Birchwood Estate,
Lincoln,
Lincs.
80,000


Bowling Green
324, Wragby Road,

Lincoln.
Lincs.
40,200


Bugle Horn

Bassingham,
Lincoln.
Lincs.
9,700


Burton Arms
70, West Parade,

Lincoln.
Lincs.
14,300


Carholme inn
Gresham Street,

Lincoln.
Lincs.
10,700


Centurion
Newark Road,
North Hykeham,
Lincoln.
Lincs.
41,300


Hare & Hounds
High Street,

Lincoln.
Lincs.
19,100


Lincoln Imp
Blankney Crescent,
Ermine Estate,
Lincoln.
Lincs.
91,500


Lion & Snake
Bailgate,

Lincoln.
Lincs.
17,000


Millers Anns


Lincoln.
Lincs.
19,000


Nags Head

Middle Rasen,
Lincoln.
Lincs.
8,900


Olde Crowne
Clasketgate,

Lincoln.
Lincs.
46,000


Queen Hotel
323, High Street,

Lincoln.
Lincs.
53,700


Ripon Arms
Monson Street

Lincoln.
Lincs.
13,200


Roaring Meg
Nettleham Road,

Lincoln.
Lincs.
38,000


Royal Villian IV
Brayford Wharf,

Lincoln.
Lincs.
14,600


Joiners Arms
Victoria Street,

Llncoln.
Lincs.
9,000


Black Horse


Ludford-Parva,
Lincs.
3,600


Brownlow Arms

Faldingworth,
Market Rasen,
Lincs.
6,900


George Inn


Market Rasen,
Lincs.
5,200


Gordon Arms
Queen Street,

Market Rasen,
Lincs.
17,200


Kings Head


Market Rasen,
Lincs.
10,000


Railway Inn


Market Rasen,
Lincs.
5,600


Red Lion


Market Rasen,
Lincs.
3,500


White Hart


Newton-on-Trent,
Lincs.
4,600


White Hart


North Scarle,
Lincs.
6,900


Shoulder of Mutton
Church Street,

Ruskington,
Lincs.
15,000


Old White Hart
Southgate.

Sleaford,
Lincs.
30,000


White Horse

Heckington,
Sleaford,
Lincs.
4,100


Birds

Halmergate,
Spalding,
Lincs.
35,000


Black Swan
New Road,

Spalding,
Lincs.
19,500


Bull Inn

Pinchbeck,
Spalding,
Lincs.
15,500


Hole in the Wall Inn


Spalding,
Lincs.
12,000


Horse & Jockey

Pinchbeck,
Spalding,
Lincs.
5,000


Lincoln Arms
4, Bridge Street,

Spalding,
Lincs.
14,100


Northern Hotel


Spalding,
Lincs.
12,100


Ram Inn

Holbeach,
Spalding,
Lincs.
14,400


Ram Skin
Double Street,

Spalding,
Lincs.
6,500


Red Cow

Donington,
Spalding,
Lincs.
16,500


Vine Inn
Commercial Road,

Spalding,
Lincs.
13,000


Welland Inn


Spalding,
Lincs.
7,500


Red Lion

Raithby,
Spilsby,
Lincs.
3,300


Brewery Tap

Geeston, Ketton,
Stamford,
Lincs.
4,700


Lincolnshire Poacher
Broad Street,

Stamford,
Lincs.
35,600


Millstone Inn

Ryhall,
Stamford,
Lincs.
5,500


Halfway House


Swinderby,
Lincs.
20,900


Plough Inn


Swinderby,
Lincs.
3,500


Blue Bell


Tattershall Thorpe,
Lincs.
7,400


Kings Head


Tealby,
Lincs.
8,000


Angel Inn


Wainfleet,
Lincs.
6,300


Hunters Leap


Washingborough,
Lincs.
19,600


Abbey Lodge

Kirkstead,
Woodhall Spa,
Lincs.
9,700


Mall Hotel


Woodhall Spa,
Lincs.
10,000


Shire Horse
Wlllowbrook Road.

Corby,
Northants.
29,500


Cross Keys


Kingscliffe,
Northants.
7,000


Black Horse


Nassington,
Northants.
3,300


Crown & Woolpack

Conington,
Peterborough
Northants.
0


Heron Hotel

Stanground,
Peterborough,
Northants.
30,000


Mermaid

Wansford,
Peterborough,
Northants.
15,600


Walnut Tree

Deeping St. James,
Peterborough,
Northants.
4,500


Admiral Inn

Holme,
Peterborough,
Northants.
450


White Horse
Church Street,
Market Deeping,
Peterborough.
Northants.
19,000


Wheel & Compass


Weston-by-Welland,
Northants.
5,700


Manor Arms


Elton,
Notts.
10,000


Limeburners Arms


Kirkby-in-Ashfield,
Notts.
8,100


Angel Inn


Mansfield Woodhouse,
Notts.
10,700


Portland Hotel
High Street,

Mansfield Woodhouse,
Notts.
17,300


Charter Arms
Exchange Row,

Mansfield,
Notts.
27,500


Flamingo
Oak Tree Lane,

Mansfield,
Notts.
65,000


Horse & Jockey
Leeming Street,

Mansfield,
Notts.
63,000


Prince Charles
Clipstone Road,
Forest Town,
Mansfield,
Notts.
37,300


Boot & Shoe

Weston,
Newark,
Notts.
8,000


Bowling Green
83, Appletongate,

Newark,
Notts.
45,600


Castle & Falcon
London Road.

Newark,
Notts.
8,800


Crown Inn

Bathley,
Newark,
Notts.
3,800


Crown & Cushion
Albion Street,

Newark,
Notts.
7,100


Fox Inn

Kelham,
Newark,
Notts.
29,500


Fox & Crown
Appletongate;

Newark,
Notts.
13,700


Grove Hotel

New Balderton,
Newark,
Notts.
26,900


Hole Arms

Caunton,
Newark,
Notts.
5,300


Kings Arms
King Street,

Newark,
Notts.
9,300


Malt Shovel
North Gate,

Newark,
Notts.
8,500


Midland Hotel
Muskham Road,

Newark,
Notts.
23,800


Nags Head

Sutton-on-Trent,
Newark,
Notts.
7,200


New Inn
99, Barnbygate,

Newark,
Notts.
19,800


Newcastle Arms

North Muskham,
Newark,
Notts.
10,600


Pauncefote Arms

East Stoke.
Newark,
Notts.
16,700


Plough Inn

Coddington,
Newark,
Notts.
15,500


Robin Hood Hotel
Lombard Street,

Newark,
Notts.
82,000


Rose & Crown
Main Street,
Balderton,
Newark,
Notts.
13,300


Rose & Crown

Farndon,
Newark,
Notts.
14,600


Royal Oak

Collingham,
Newark,
Notts.
10,000


Royal Oak
Castlegate,

Newark,
Notts.
10,300


Spread Eagle
Middlegate.

Newark,
Notts.
13,500


Vine Hotel
117, Barnbygate,

Newark,
Notts.
27,300


Watermill Inn
Millgate,

Newark,
Notts.
7,200


Wheatsheaf


Newark,
Notts.
11,000


Wheatsheaf Inn
Slaughterhouse Lane,

Newark,
Notts.
10,200


White Hind
Cartergate,

Newark,
Notts.
23,600


Willow Tree

Barnby,
Newark,
Notts.
7,800


Woolpack

Claypole,
Newark,
Notts.
11,500


Woolpack
Stodman Street,

Newark,
Notts.
8,000


Duke of Cumberland
Middlegate.

Newark,
Notts.
4,000


Three Tuns
Warser Gate,

Nottingham,
Notts.
11,000


Newcastle Arms
68, North Sherwood Street,

Nottingham.
Notts.
13,200


Red Cow
Windmill Lane,

Nottingham.
Notts.
17,800


Yew Tree
Nottingham Road.
Hucknall,
Nottingham.
Notts.
18,000


Stadium Hotel
Ice stadium

Nottingham.
Notts.
500


Greyhound Inn
Mansfield Road,

Skegby,
Notts.
13,700


Admiral Nelson

Westhorpe,
Southwell,
Notts.
10,700


Saracens Head Hotel


Southwell,
Notts.
83,600


Blue Bell
Mansfield Hoad,

Sutton-in-Ashfield,
Notts.
10,000


New Cross
Outram Street,

Sutton-in-Ashfield,
Notts.



Railway Inn


Sutton-in-Ashfield,
Notts.
10,000


Red Lion


Thurgarton,
Notts.
13,300


Gate Inn
Mansfield Road,

Warson,
Notts.
10,900


Royal Oak

Bakestone Moor,
Whitwell,
Notts.
8,000


Dukeries
Bridge Street,

Worksop,
Notts.
19,000


Jug & Glass

Whitwall,
Worksop,
Notts.
8,300


White Swan


Worksop,
Notts.
13,000


Rose & Crown

Creswell,
Worksop.
Notts.
10,000


Vine Hotel
17, Carlton Road.


Notts.
23,700


Exeter Arms
Mid Village Road,

Barrowden,
Rutland.
2,400


White Horse


Empingham,
Rutland.
11,700


Black Horse

Greetham,
Oakham,
Rutland.
6,300


Fox & Hounds

North Luffenham,
Oakham,
Rutland.
10,600


George Hotel


Oakham,
Rutland.
21,500


Prince of Wales


Oakham,
Rutland.
6,000


Wheatsheaf

Edith Weston,
Oakham,
Rutland.
12,500


Joiners Arms

Bruntingthorpe,
Rugby,
Warwicks.
7,300


Full House
Rotherham Road,
Monk Bretton,
Barnsley.
Yorks.
55,000


Cross Keys

Gringley-on-the-Hill,
Doncaster,
Yorks.
8,800


Two Palfreys
Acacia Road,
Cantley Estate,
Doncaster.
Yorks.
76,000


Source:


Document ACC/2305/41/1 held at the London Metropolitan Archives



I realise this has limited appeal to anyone unconnected with Newark. But that's the point of blogging. No-one is telling you what to write about.

Surprisingly the Two Palfreys still exists. Why surprising? Because it's an estate pub. Many of those have closed in the last two decades.



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