I used to live opposite this pub when it was a dirty and disreputable boozer — a sad waste of a handsome, double-fronted Georgian building in swishy Barnsbury. After my time, in 2002, the inevitable happened: it was made over into a gastropub. There was a big open bar, a lovely piano nobile dining room upstairs, and a nice little garden at the back — and the food was good too. In 2003, the Drapers Arms deservedly won the Evening Standard Pub of the Year award. It remained a great place to eat and drink for the next five years, consistently recommended.

Last year, though, surprisingly negative postings started to appear on pub-review websites. In August 2008, it abruptly closed. The cause appears to have been not so much the recession as self-inflicted woes — the founding partnership had split up, there were problems with the Inland Revenue ...

This week, The Drapers Arms has finally been re-opened by its new owners, Nick Gibson and Ben Maschler (whose mother is our restaurant critic, Fay Maschler), with the kitchen now led by Karl Goward, formerly head chef at St John.

The food he is turning out here remains distinctively the “nose-to-tail eating” pioneered by Fergus Henderson. You know that as soon as you see the menu: ox heart and ox tongue, pig’s ears and duck hearts, plainly named and served straight, too.

Crispy pig’s ears, chicory and sorrel (£5) was thin slices of dry-roasted porker lugs — basically, specially sourced scratchings — served on a refreshing herby salad, with slices of red onion, good capers, slices of gherkin and lots of parsley mixed in and savvily dressed. It’s always been one of St John’s strengths: alongside the meaty main item, a superb garnish.

Devilled duck’s hearts on toast (£5) turned out to be just that, though. Duck hearts are a great St John motif: in his first cookbook, Henderson suggests five as a decent serving, “the perfect snack for the cook who has just prepared five ducks”. I was presented with a rather startling seven — very good too, they were, firm and elastic, but not rubbery, and a fine alternative to devilled lamb kidneys. But I did feel a bit of an amateur Hannibal Lecter. Especially next day, when I saw a family of ducks enjoying themselves on the canal — how many? Five, six, ah yes, precisely seven...

From the mains, quail, lentils and wild garlic (£12.50) was just right: a crispily roasted, spatchcocked bird on some excellent Puy lentils, with the garlic leaves adding a subtle tang. Berkswell omelette and herb salad (£9.50) was the wussy, or as it might be girly, choice — a light cheese omelette, made from more whites than yolks, again carefully garnished with a well-dressed salad.

The short list of puddings avoids the obvious, offering instead the likes of lardy cake and ginger beer float. A malt chocolate bavarois (£5.50) had a slickly gelatinous texture and Horlicksy undertaste. Perhaps some more direct sweeties could be offered? An Isle of Mull cheddar with oatcakes (£5) was just a plain chunk with a few slices of apple on the side. Though nobody wants needless fuss, extreme starkness can become mannered too.

Although there is a separate bar menu, the same food can be ordered throughout the pub and the choice changes daily. The wine list, kicking off at £3.60 a glass, £13.50 a bottle (a Gers white, a Herault red), is highly rewarding, strong on France but with appealing New Worlders too, and lots of value around the mid-twenties (eg, Chateau de Fontenille, Bordeaux, 2005, at £22).

It seems that, on the pre-opening weekend, the still-loaded burghers of Barnsbury were happily tucking in to a top-notch Sancerre, Domaine de la Perriere, at a crisply priced £33. Green shoots in a glass, maybe?

On this form, the Drapers — currently painted a slightly disconcerting baby blue, by the way — looks like it’s going straight back to being the joy of the neighbourhood that it was in its heyday. It’s always been a pleasure to be in these handsome rooms. When it comes to the food, the new owners have clearly opted for St-John-goes-to-the-pub but, with Fergus Henderson’s restaurant having just been voted the best in London, who’s complaining?

Welcome back.