PROPERTY ROUND-UP

£1.4m ploughed into pubs & music venues

01-Jun-2023 - Last updated on 01-Jun-2023 at 08:42 GMT

Cash out: Pubcos are investing heavily in their properties

Proper Pubs has put £1m into upgrades, Admiral Taverns has invested more than £347,000 into two Staffordshire pubs, and around £97,500 has been ploughed into grassroots music venues across the country.

Proper Pubs ploughs £1m into upgrades in one month

Proper Pubs, the community wet-led operator division of Admiral Taverns, has this month (May 2023), invested more than £1m into upgrading its community pubs.

The group, which has more than 170 pubs across England, Scotland and Wales, has invested the funds into four pubs in Middlesbrough, Harlow, Preston and Wigan.

An active investment programme is a core part of the group’s strategy ensuring pubs can evolve and thrive within their communities, offering customers an active social hub.

Admiral-invests-1m-into-Proper-Pubs-overhauls-in-May

Essex pub opens new coffee shop

An Essex pub has opened a new on-site coffee shop to help its local community.

The Three Horseshoes pub in Fordham, which was purchased by licensee Moira Edwards just before the third Covid lockdown in 2020, originally opened the coffee shop to serve takeaway drinks and snacks to people living locally during the pandemic.

However, with the area having limited access to public transport and local services, Edwards soon realised the new shop, called The Coffee Shed, was needed as a permanent service.

Edwards said: “It’s an exciting time for us. We have so many visitors to The Coffee Shed in the mornings, so we wanted to create a comfortable welcoming space for our guests to enjoy their time with us.”

£97.5k ploughed into grassroots music venues

The pubs that secured investments are CWRW in Carmarthen, Carmarthenshire, the Lighthouse, Deal, Kent, the Holroyd Arms, Guildford, Surrey and the Old Abbey Taphouse, Hulme, Greater Manchester.

Furthermore, the latest investment has seen music charity MVT cash out £97,516.97 to venues for improvements and training.

MVT chief executive Mark Davyd said: “This fourth round of the Pipeline Investment Fund once again demonstrates how much difference small amounts of money, wisely invested, can make for grassroots music venues.

“With grassroots music venues facing extraordinary challenges right now, Music Venue Trust is determined to keep pressing the music industry and government to support this fund and ensure music communities right across the country can continue to access the very best in live music.”

Admiral pumps £350k into two pub refurbs

Chester-based pub company Admiral Taverns has invested £347,000 into two Staffordshire pubs.

The King’s Way in Stoke-on-Trent has received a £135,000 makeover while the Pool Dole, also in Stoke, received a £212,000 renovation.

Investing into its estate through capital expenditure is a core part of Admiral’s strategy. It is also always on the lookout for further ways to support its licensees.

An example of this was last year, the company invested £1m into energy-saving initiatives across about a quarter (450) of its estate in a bid to help combat rising energy costs.