Flatcappers, the West Country pub company headed by Alex Reilley and ex-Bibendum general manager Pierre Woodford, has completed on its third pub.
The company has taken a 15-year free-of-tie lease on the Battle Axes, a few miles outside Bristol. The site was suggested to Flatcappers by Melrose Commercial Property director Bruce Sprosen.
The venue has a rent of £40,000 per annum and Flatcappers thinks it will be able to boost annual turn-over to £1m excluding VAT. Reilley described the venue as an "incredibly large pub, a beast".
He added: "Because of its size we can refurbish it in sections — we're looking at a £350,000 total investment."
The venue actually boasts two distinct trading areas with a self-contained second pub, the Wraxall Arms, at lower ground floor level.
Flatcappers opened its second pub, the Bell in Frome — a Wellington Pub Company lease — last year. Its first pub was the freehold Castle in Bradford-upon-Avon, Somerset.