However, company director David Mills said its plans for growth are being “halted by the lack of the right sort of properties being put on the market”.
“The media is constantly reminding us about the number of pubs closing every day or struggling in the current economic climate, but despite all that, it’s proving really difficult to find our next exciting venture.”
Mills founded the pub company with partner Christine Harris; they were previously regional chairman and regional managing director respectively of property developer Westbury Homes.
Mills added: “We are particularly interested in the Solihull, Stratford-upon-Avon, Coventry, Warwick and surrounding areas, with 80+ covers and ample car parking. We’re also prepared to consider major refurbishment projects too, in view of our extensive building and renovation expertise.
“It is a frustrating situation to find ourselves in, as we are clearly in a position to create lots of new jobs, but are unable to take the business forward until we can find another pub.”
CD currently operates two sites: the Stag at Offchurch, held on a private lease, and the Moorings at Myton in Leamington Spa, a Charles Wells leasehold.
Mills suggested that a freehold acquisition could be on the cards. “We are in a position to buy a pub and we’ve been looking at several for sale, or we could lease one. The important thing is looking for ones that could be successful gastropubs.”
Mills said that he and Harris have so far provided the funding for expansion, but their bank has agreed to make loans available if necessary.
