Peach expands portfolio with £350,000 riverside pub
Boulters Lock, a pub restaurant overlooking the River Thames above a lock in Maidenhead, was bought by the company last month for £350,000.
Managing director Hamish Stoddart said the group plans to invest a further half a million pounds in the site with a redevelopment scheduled for later this year.
Under its previous owners, the pub had a weekly net turnover of £20,000, which has been increased to £30,000 since Peach took over.
'Smooth takeover'
Stoddart said: "We have brought another stunning pub into the Peach portfolio, taking it over smoothly with many of the existing, established team joining the Peach family.
"No Peach magic has been applied to the pub yet. Plans are being readied in July and we are looking forward to investing a further half a million pounds or more to achieve our dream of making Boulters Lock into a £2m-£3m turnover pub.”
The pub offers an alfresco location for customers to drink and eat in the sun while overlooking the river from the Ray Mill Island.
Third acquisition
Boulters Lock is the company’s third acquisition this year, after refurbishing properties in Oxfordshire and Hertfordshire.
The Bear & Ragged Staff, in Cumor, Oxfordshire, received a £320,000 investment in February. The country pub in a small village has seen its weekly net sales increase from £17,000 to £25,000.
Brookmans, in Brookmans Park, Hertfordshire, also saw the benefits of a £340,000 modern makeover in March. In addition to menu changes, the new look brought in an added weekly turnover of £8,000.
