333 Holdings opens fifth site

Chelsea-based operator 333 Holdings has opened its fifth site, just in time for the Christmas trade.

The Woolpack Inn, between the villages of Totford and Northington, in Hampshire, is a Grade I-listed building that has been closed since January for refurbishment.

Co-founder of 333 Holdings Alex Langlands Pearce said: "As it is listed, we had to go through all the rigmarole to ensure the work was done properly." The refurbishment cost around £500,000 with a further £150,000 spent on furniture and fittings. The Woolpack has eight bedrooms let on a B&B basis at prices varying from £75 to £110 per night.

Langlands Pearce said projected takings for the outlet are based on a 70:30 split between food and drinks.

"I would hope that between 20% and 30% of turnover will come from room income, once we are established," he added.

The pub opened on 29 November and Langlands Pearce said the dining area was fully booked over the following two weekends. "We decided on a very soft opening and relied on local word of mouth spreading the message, so we're delighted with the bookings."

The Woolpack is owned by a member of the Heineken family and is run on a free-of-tie lease by 333 Holdings. It is the second country pub run by the company.

Simon Prideaux, the other co-founder of 333 Holdings, said: "We are looking to expand our portfolio. This involves picking partners who have equity in the running of the business because they perform better if they have ownership in the pub."