London, UK: A pub with roots stretching back to 1791 is about to be reborn under an owner whose own family history runs through the same Soho streets. Shaftesbury Capital has signed Ardent Pub Group, the independent operator behind The Cadogan Arms, The George and The Hound, to open a brand-new pub called The Magpie at 142 Shaftesbury Avenue, marking the latest food and beverage signing in Covent Garden's ongoing evolution.
The 465 m² unit spans three floors and will serve 140 covers, joining a run of recent Covent Garden openings that includes Mr Fogg's Market Tavern, Burro by Conor Gadd in Floral Court, Buvette by Jody Williams in Neal's Yard, and the signing of Casette on Maiden Lane. The Magpie is timed to match Ardent's own growth trajectory, with the group reporting over 25% year-on-year sales growth and a 40% year-on-year uplift in group EBITDA, as it targets further openings across London and beyond over the next three to five years.
"I'm excited about The Magpie because there's such a personal story behind it. Dom's family connection to the pub and the wider Soho neighbourhood gives a real sense of authenticity, while his ambition to create the kind of London pub that brings everyone together feels particularly right for this location, where Covent Garden, Soho and theatreland meet. Ardent have a fantastic track record of creating much-loved pubs, and bringing ambitious independent operators like them to Covent Garden is an important part of how we continue to evolve the neighbourhood while retaining the character that makes it so special," said Emma Matus, Head of Restaurant Leasing at Shaftesbury Capital.
What deserves attention from landlords and investors is what this signing reveals about tenant selection strategy in London's premium leisure districts. Shaftesbury Capital is explicitly pairing strong covenant strength (Ardent's documented sales and EBITDA growth) with a hyper-local authenticity story tied to the operator's own family history in the area, a combination increasingly used to differentiate footfall-driving leisure units from purely transactional retail lettings. For landlords competing to secure the strongest independent F&B operators in central London, backing founders with genuine neighbourhood ties, rather than purely chasing the highest-grossing chains, appears to be an increasingly deliberate leasing strategy rather than incidental branding.
"My grandfather Sidney embodied the area's hardworking spirit, spending three decades in the fire service at Soho Fire Station where The Marquis of Granby, now The Magpie, was his local pub, even holding his retirement party there, whilst my great uncle, Owen 'Oska' Wood, was part of the Soho artist set, jumping from The Coach and Horses, The French House and the Colony Room Club. The melting pot of communities here is what makes Soho so special. With Covent Garden, theatreland and Soho all meeting together, we hope The Magpie will be a place that welcomes everyone and reflects the spirit of the area. Having grown up regularly visiting the area with my parents because of these family ties, Soho has always felt very personal to me. To now have the opportunity to become part of its story ourselves is incredibly special, and we want The Magpie to reflect the spirit of the area and respect the history of the pub building itself, first established in 1791 and reconstructed in 1886," said Dom Jacobs, Founder and Managing Director of Ardent.
The Magpie opens in early 2027, designed by Sam Hosker of NorthEnd, with interiors honouring the building's late 1800s origins and the taverns that once lined West Street in the centuries before.
People mentioned
- Emma Matus, Head of Restaurant Leasing, Shaftesbury Capital
- Dom Jacobs, Founder and Managing Director, Ardent Pub Group
- Sam Hosker, Designer, NorthEnd
Companies and organisations mentioned
- Shaftesbury Capital, landlord signing Ardent Pub Group in Covent Garden
- Ardent Pub Group, independent pub operator opening The Magpie
- NorthEnd, design studio behind The Magpie's interiors
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