Intertain, the Walkabout bar operator, is to open a US-themed cocktail bar at its Rewind club in Reading, M&C Report has learnt.
The bar, called the Bowery District, will operate on the first floor and is inspired by its namesake district in New York. The project has been described as a “chic Manhatan-style cocktail bar”.
Intertain chief executive John Leslie told M&C Report that it’s a “one off” concept for the Reading venue, with includes a Highlights comedy club upstairs. The company also operates a Walkabout in the Berkshire town.
He said the next big project for Intertain is a “complete rebuild” of Walkabout in Blackpool, which was hit by a fire in June and is expected to re-open in late October. Leslie said this had “shunted [the other investments] back a bit”.
He also expects to refurbish its Lincoln Walkabout later this year. The most recent project was at Walkabout in Carlisle, which re-opened three weeks ago following a £500,000 investment.
Announcing its results for the year to 2 February 2013, Intertain said it had spent £2.3m on six major refurbishments over the period.
At the end of the year 11 sites had been refurbished under the programme that started in September 2010, including nine Walkabouts. Overall returns on investment were 81% net of landlords’ contributions.
All but three of the 11 are currently delivering returns that will see the investment paid back in under two and a half year, Intertain said.
