Avebury promises non-themed pubs

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Related tags: Lease, Leasehold estate

Avebury Taverns, which recently more than doubled in size, has promised there will be no theming or branding in its 431 pubs.The independent operator...

Avebury Taverns, which recently more than doubled in size, has promised there will be no theming or branding in its 431 pubs.

The independent operator which sprang up out of nowhere in November last year, bought 222 leased and managed houses from Bass 10 days ago.

But the outlets, which are scattered across London and the South East, the North and the West Midlands, will remain individual.

Managing director David Myers, like Chris Hutt of Wizard Inns, believes there's a market for non-themed pubs.

He said: "All the houses will trade under their own name and individuality.

"We are specialising in the tenanted sector and feel the best thing to do is work with the tenant. We are providing a retail focus without branding or theming."

During the next six months, Avebury will embark on a huge audit of all the former Bass outlets.

"What we spend on refurbishing and investment will depend on the outcome of this.

"We have a number of schemes in the pipeline.

"But we haven't allocated a budget yet," Myers added.

Avebury, established by Rodney Mann, immediately bought 147 tenanted pubs from Wolverhampton & Dudley.

The company, funded by Japanese investment bank, Daiwa Europe, acquired another 62 from Whitbread in December.

Despite concentrating on investment in the estate, Avebury will be keeping a sharp eye on the market place.

Myers said: "We're still looking at portfolios - we haven't got a target number in mind.

"But we'll only acquire if they're the right quality.

"Good quality tenancies might be down to the volume potential or the core areas they represent."

The pub company plans to convert the 69 former Bass managed houses into tenancies and claims this will involve managers becoming tenants in some places.

Avebury is offering a range of agreements from a three-year traditional tenancy to a 10-year partnership lease - which will be used in the larger houses and involves joint investment projects between the tenant and Avebury.

Myers added: "We believe the way to get the best of the estate is by focusing on that part of the business."

Related topics: Other operators

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