Faucet Inn, the pub chain which closed the Black Cap in Camden is in talks to buy the Royal Vauxhall Tavern.
Faucet Inn owns 11 bars in London, confirmed it was hoping to buy the Grade II listed gay pub from its Austrian owners.
A two-year campaign led by Amy Lamé and Sir Ian McKellen, Graham Norton and Paul O’Grady tried to save it as a gay pub. Only recently Lambeth council awarded the pub “sui generis” classification, giving it further protection and prohibiting the top floors from being turned into flats.
Immovate is trying to sell a controlling interest of shares in the holding company, rather than the building. This means that the pub’s ownership can be transferred without triggering Asset of Community Value legislation which would give the community time to raise funds to buy it.
Steve Cox, Faucet Inn’s managing director, said talks with Immovate were in the “early stages” and that it was conducting “due diligence”. He said: “If we did acquire the Royal Vauxhall Tavern, we would invest in the premises and look to improve the existing operations.”