Brakspear is investing £2 million in refurbishing two of its leased & tenanted pubs, after signing tenancy agreements with pub companies Little & Large and Friendship and Beer.
Little & Large Pub Company has signed its second Brakspear pub, The Leicester Arms in Penshurst, which will undergo major refurbishment later this month, with reopening scheduled for early 2024.
The White Bear in Warlingham was taken on by Friendship & Beer this summer and will also receive a makeover designed to create a more open space for drinking and dining, set to reopen at the end of October.
Brakspear chief executive Tom Davies said the investment was an indicator both of the potential it sees in the pubs, but also “the value we place on our partnerships with our tenants.”
“We have many stunning pubs in beautiful locations across the south east, and The Leicester Arms and White Bear are fine examples, but they are only ever as good as the tenants who run them.
“Working with talented operators is key to our success, and we’re delighted to welcome Friendship and Beer, and to extend our relationship with Little & Large to a second pub,” Davies added.
Little & Large co-founder Manu Bhatt said, “A turnover tenancy has worked well for us at The Running Horses; initially it gave us time to find our feet and as sales have grown, so has our rent to Brakspear. It’s a fair way of doing business and we’re pleased to have the same agreement at The Leicester Arms.
“Signing up for our second pub with Brakspear has been an aspiration for a while. I really like their approach and the flat structure that means I can talk direct to Tom at any time; you don’t get that kind of access at most pub companies.”
Friendship and Beer operations director Stuart Labram added, “The White Bear is a fantastic pub and once the redevelopment is complete we know it’ll fly.
”It’s been great working alongside Brakspear on the project; they have years of experience in refurbishing pubs, but they’ve also listened to what we want as the operators. That respect is key to a good landlord-tenant relationship, and a successful pub.”
