Enterprise Inns has said it will reveal details of its strategy to grow its managed and commercial property estates in response to the demands of the pubs code.
In a statement to the City this morning the company said that when it reports its interim results on 12 May, it will also update the market on its strategy for “maximising long term value from its estate” and creating a “more flexible business model”.
The company said: “Whilst retaining the tenanted pub model at the heart of its business, the update will outline the progress Enterprise is making to build complementary managed and commercial property estates.
”The review follows a detailed assessment by the board over several months to ensure that the company is best placed to adapt to the structural changes likely to affect the industry as a result of the forthcoming Statutory Code and the anticipated introduction of a Market Rent Only option.”
Enterprise opened its first managed pub, the St James’ of Bermondsey, last May. The company set an initial target of converting 50 pubs to managed but has said the figure could eventually go as high as 500.
