JDW to open two new sites with almost £5m combined investment

By Nikkie Thatcher contact

- Last updated on GMT

Company finance: it is understood the latest openings are part of JDW's 10-year plan to invest £895m into new and existing sites (image: Getty/Rob Daly)
Company finance: it is understood the latest openings are part of JDW's 10-year plan to invest £895m into new and existing sites (image: Getty/Rob Daly)

Related tags: Jd wetherspoon, Property, Finance, Pubco + head office

Pub group JD Wetherspoon (JDW) is opening two new pubs today (Thursday 16 December) in Birmingham and Sheffield, investing nearly £5m in the venues.

The Scarsdale Hundred in Beighton is on the site of a former restaurant and the Navigation Inn in King’s Norton is opening on the site of a former pub with the same name. The two openings have also meant 150 new jobs have been created.

JDW chief executive John Hutson said: “We are delighted to be opening both pubs and look forward to opening more in 2022 and beyond.”

The Morning Advertiser ​understands this is part of JDW’s 10-year plan, which it announced earlier this year (March).

Company investment

This included investing £895m in developing new sites​ alongside upgrading existing venues as part of the decade-long scheme.

The development has a pipeline of 75 projects including 18 new pubs and 57 “significant” extensions as well as upgrades to other existing sites initially, which is set to take place as pubs are permitted to reopen. The company estimated this will cost £145m.

The first part of the plan will be in areas such as Leeds, Birmingham, Newport Pagnell, Heswall, Sheffield, Felixstowe, Dublin, Haverfordwest, Carmarthen and Glasgow.

Once these 75 are completed, JDW anticipates investing a further £750m in opening 15 new pubs alongside enlarging 50 existing sites each year for 10 years. The decade-long project will result in 20,000 new jobs, the pub group has estimated.

Job creation programme

Should the group retain all its current sites, it would mean the estate would grow from its existing portfolio of 871 to 1,039.

JDW founder and chairman Tim Martin said: “Our immediate investment will provide work for architects, contractors and builders as well as result in 2,000 new jobs for staff in our pubs.

“We are geared up to start on the first projects within a few months. We are also committed to our long-term investment and job creation programme over the next decade.

“However, the investment is conditional on the UK opening back up again on the long-term basis, with no further lockdowns or the constant changing of rules.”

Related topics: JD Wetherspoon

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