McMullen's enhances tenanted pubs to managed house standard

The Hertfordshire-based company has been moving its 45-strong tenanted estate in line with its managed pubs during major ‘repair and decorate’ investments that take place every five years.

'Competitive'​

“I would say that we are probably 70% of the way there,” Mansfield said. “We can now be competitive in the same marketplace.

“I think many tenanted companies have neglected their tenancies to the point where they are a bit behind the managed houses, and we’re keen to make sure that doesn’t happen.”

He added that such investments would come only “on the back of recruiting a fantastic operator”.

Rep and decs​

Eight ‘rep and decs’ are planned for this year, with six completed to date.

Examples include the Ram Inn at Hertford, where £150,000 — plus the tenant’s investment in fixtures and fittings — was spent transforming it into a “very current, trendy operation”.

A £100,000 investment has been made at the Steamer in Welwyn, Hertfordshire, where former JD Wetherspoon area manager Dan Tubbs is the tenant.

Sales have grown 80% since the investment, which transformed it into a “very modern high-street local with an excellent food offering”.

'Try before you buy' scheme​

Separately, Mansfield also revealed that six tenants have so far taken on outlets under the company’s ‘try before you buy’ one-year agreement that offers reduced rents and beer discounts for the first six months.

He expects most to take the company’s full six-year tenancy; two have done so already within the first few months.