Brakspear has completed the purchase of its third pub in as many weeks, taking the tenanted operator’s total estate to 144 and giving it a foothold in the heart of the Cotswolds.
The Royalist in Stow-on-the-Wold is reputed to be England’s oldest inn, with parts of the building dating back to the 10th century. Grade II listed, it currently houses a separate restaurant as well as 14 recently modernised letting rooms.
Brakspear chief executive Tom Davies said, “The Royalist has enormous potential thanks to its outstanding location and rich heritage. We are looking forward to making it the first choice drinking, dining and overnight destination for the many visitors to Stow from both the UK and abroad.”
He added, “Brakspear has a good track record in combining olde worlde charm with fine modern dining and high-spec accommodation, as the many food-led pubs with rooms in our core Thames Valley estate demonstrate. Moving this successful formula into the Cotswolds is an exciting prospect that we are confident will pay handsome dividends.”
Brakspear has invested significantly in its pubs with letting rooms. The White Hart at Nettlebed near Henley received a £250,000 refurbishment in spring 2011, followed by additional letting rooms this year to take the total to 19. The Crown at Playhatch also received a £500,000 remodelling, including an upgrade of its 10 rooms.
The Royalist is currently operating with an interim Brakspear tenant while the company considers longer-term options. Brakspear will be investing substantially in the pub to ensure it is able to deliver on its potential.
Notes to editors:
- The Royalist had been in administration, though still trading, for 18 months prior to Brakspear’s purchase, brokered by Colliers International.
- The historic site dates back to the 16th or 17th century, though parts are reputed to form part of a refuge dating back to 947AD built on the Fosse Way by a Saxon Duke called Aethelmar.
- Brakspear as it exists today was formed in 2006 when the Brakspear family sold its interest in the company’s 100+ pubs to JT Davies, who owned 50 pubs. Most of the 144 pubs in the combined estate are now branded Brakspear and sell Brakspear beers. The Davies family is closely involved in running the business.
- The company’s heartland is in and around Henley-on-Thames, Reading, Berkshire, Oxfordshire, Middlesex and up the M4 corridor London, with a number of sites in and around the City. The estate’s furthest reaches are Northampton to the north, Chichester to the south, Dover to the east and Salisbury to the west.
Issued on behalf of: Brakspear
By: ShielPorter Communications
Further information: Ros Shiel