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Red Oak Taverns eyes tenants for three pub sites

By M&C Report , 10-Dec-2012

Red Oak Taverns, the company set up by two former associates of Robert Tchenguiz, is seeking tenants for the first handful of pubs it has invested in out of the 32 it acquired at the start of this year.

The group, which includes Jeremy Blood, former executive chairman of WaverleyTBS, among its investors, is looking for tenants for: the King’s Arms in Whitchurch, Hampshire; the White Hart in Cullompton, Devon; and the Globe Inn in Wells, Somerset.

All three have undergone or are set to undergo a major refurbishment.

All three sites are available on a flexible lease or tenancy agreement and are free-of-tie on wines, spirits and minerals. The sites all have an annual rent of £24,000 and entry costs range from £10,000 to £15,000.

The Globe is currently being managed by Toby Brett, owner of Banwell House Pub Company.

LT Pub Management, the pub-management specialist led by Billy Buchanan, was appointed to handle back-office and management functions for Red Oak.

Blood told M&C Report earlier this year that he would like the group to prove itself before moving it forward.