JD Wetherspoon (JDW), the managed pub operator, is to invest £20m in opening 14 new pubs in July, which will take its estate to 822. Chairman Tim Martin said: "The company continues to go from strength to strength and the opening of 14 new pubs in one month highlights this perfectly." The new pubs will open in Swansea, Luton, Nottingham, East Didsbury, Bromley, Weston-super-Mare, Leighton Buzzard, Holywell, Newbury, Whitstable, Farnborough, Accrington, Todmorden and Wellington. The openings are expected to create up to 650 new jobs. JDW plans to open c.50 sites a year. Earlier this year, Martin increased the company’s long-term target for pub openings from 1,500 to 1,600 as it looks to exploit falling property prices.