City Pub EIS Fund co-founder Clive Watson has told M&C the investment vehicle’s two acquisitions this week represent the opposite ends of the spectrum of the London property market.

He said the Lord Cardigan in Bow would need a “a complete overhaul” in contrast to the Garrison, on Bermondsey Road, where he said the company would continue the work of previous owners Village London.

He told M&C: “This is a great area of London and what we are really pleased about is that it has a great beer garden, which not many other places in the vicinity have.

“We are familiar with the area because we used to have the Morgan Arms nearby.

“It is real start again time – it will need a complete refurbishment but we will have a fantastic pub at the end of it.”