Timothy Taylor chief executive Tim Dewey has told MCA that the group is abandoning growth plans for its managed house division but is still on the lookout for tenanted pub acquisitions.
It comes as the group put its Harrogate Brasserie site on the market through Christie & Co, after two years of ownership.
Dewey said that money which would have been put in the site will now go towards further investment in the brewery, including the installation of a further seven fermentation vessels as the group seeks to increase flexibility in its brewing business.
Dewey told MCA that the group’s two remaining managed pubs – the Lord Rodney in the company’s hometown of Keighley and the Woolly Sheep in Skipton – would continue to operate under the model.
On future additions to the 19-strong pub estate, Dewey said: “The challenge with building a managed estate was always getting to a point where you got those economies of scale. At the moment that just isn’t a priority for us and I can’t see us getting to that point any time soon. We are still in the market to pick up good tenanted pubs. Now is a great tie to be operating good wet-led, tenanted pubs. But I wouldn’t see us going back into the managed arena in the foreseeable future.”
