CD Pub Company, the Midlands-based group, has secured its fourth site, after acquiring the Old Chequers Inn in Crowle, Worcestershire on a free-of-tie basis.
The group acquired the property from a private landlord off a guide rent of £45,000 per annum.
Established in 2008, CD Pubs (Classic Developments) is a family run business dedicated to “delivering high quality pub dining experiences”.
David Mills, development director, said: “We’ve been looking for the right venue to complement The Forest at Feckenham for over a year and our highly acclaimed head chef Tom Robinson will be based at The Chequers, but oversee the menu development and food preparation at both pubs. We are investing nearly £500k in a full scale stylish refurbishment of the pub, both inside and out, which includes a new roof and an increased electrics supply to the pub with a new upgraded transformer to be installed by Western Power in the village.”
Fleurets’ Paul Newby who advised the vendor, said: “The landlords are very pleased to have CD Pubs as their long term partners in this new letting. For owners of good quality freehouses considering their exit options, free of tie letting to create an investment interest is an increasingly popular choice, and is something that should be discussed with an experienced specialist agent.”
