Brakspear buys first pub on a sale and leaseback deal

The move has seen owners Steve and Josie Slayford become the lessees at the pub. They have been at the Running Horses for 17 years, initially as lessees before buying the freehold in 2009.

Brakspear chief executive Tom Davies said: “We’re delighted to be adding the Running Horses to our estate: it’s a great pub with a fine reputation, thanks to the sterling work by Steve and Josie over many years. With the forthcoming refurbishment, and other support we can offer them, we’re confident they will make the pub even more popular and successful.”

Steve Slayford said: “Selling to Brakspear gives us the best of both worlds. We continue to run the pub, which is what we love doing, but now we can invest in the business again. Brakspear’s designer has already started to work on a refurbishment, which will refresh the dining areas and give them a more informal feel.

“We had a few expressions of interest in the pub, and we chose to sell to Brakspear because we like the way they do business: it feels like a partnership where we’re given a lot of autonomy in how we run the pub and they give us the support we need to do it well.”

Brakspear and the Slayfords are jointly funding a pub refurbishment of around £50,000.