Some 570 pubs will receive the cash injection with 100 of these planned for major makeovers averaging £200,000 and creating an estimated 600 new jobs.
The investment will focus on neighbourhood locals, which make up almost three quarters (70%) of Heineken’s 2,400-strong estate.
Furthermore, a flash survey of 400 on-trade visitors revealed 60% were choosing pubs closer to home while 56% were more likely to celebrate special occasions such as birthdays and big nights out at their local.
Of these, some 60% cited affordability compared to going ‘into town’ and four in 10 stated savings on transport as the reasons.
More than half (52%) said they were supporting their local pub more in recognition of the pressures on local businesses.
The investment programme will include bespoke refurbishments, tailored to the individual pub and its community.
The new looks aim to enhance the character of the building while retaining features such as flagstone floors and fireplaces as well as updating the pubs.
Garden makeovers will also be a common feature with new seating areas providing more room for customers.
Moreover, these upgrades also aim to help pubs reach net zero carbon emissions by 2040 as all significant projects will include measures to boost sustainability while reducing energy bills to aid combatting inflation at the same time.
Star Pubs & Bars managing director Lawson Mountstevens said: “We know from previous economic downturns when customers’ disposable income is squeezed, they look for an exceptional experience when they go out.
“A great ambiance and attractive surroundings are key and contribute to the value for money pubgoers seek.
“It is more important than ever to invest during uncertain times like these to keep pubs thriving and meeting the needs of their communities.," Mountstevens added.
“The past three years have been tough for everyone. People want some light relief and to get together and enjoy themselves.
“Pubs are ideally placed to meet this demand, offering an affordable treat. Our investment is a vote of confidence in the great British local.”
Investment minister Lord Johnson lauded the company’s cash injection alongside its sustainability targets.
He added: “This weekend, communities across the country will come together to raise a glass to the King’s coronation in their local pub.
“Heineken’s investment is great news, not only creating hundreds of new jobs and improving pubs up and down the country but also making a contribution to our net zero targets.”