11th December 2017: Oakman Inns & Restaurants, which opened the doors of its first pub ten years ago this week, has announced that they have acquired the Freehold of The White Hart, Ampthill from Punch Taverns for £2.6m.
The 1.2 acres site lies in the heart of the vibrant Bedfordshire market town, and as well as the very successful public house, it has eight hotel rooms and a function suite. It has been run by Oakman Inns since 2015 under a 25-year Free-of-Tie lease after it had been closed for some years and burdened by a troubled history.
However, after a £1.2m investment by Oakman, together with a contribution of £450k by the landlords, the White Hart quickly returned to profit, and the successful partnership has shown an excellent ROI to date. Therefore, when the opportunity to acquire the Freehold arose, it was a very easy decision, giving Punch a considerable premium to book value and allowing Oakman Inns to add the valuable freehold to their portfolio.
Oakman CEO, Peter Borg-Neal, said: “We are delighted to add the White Hart to our growing collection of quality Freeholds. We have enjoyed a positive and enjoyable business relationship with Punch over the last few years, and it has reached a happy conclusion with this ‘win-win’ deal.”
New Openings for 2018
Across the rest of the group, building work is now underway at all three previously announced developments:
- The Beech House, Amersham – opening Feb 2018. The site, which is Oakman’s first new build, will be the fourth Beech House. Oakman is slowly evolving a more relaxed and casual dining style for the brand, which they believe will appeal to the maturing millennials. With a large bar and restaurant capacity of 140, this will be the largest Beech House in the group.
- The Cherry Tree, Olney – opening March 2018. The site is being converted from a former Residential Care Home in the centre of Olney, and will be one of the largest pub and dining operations in the area.
- The Royal Foresters, Ascot – opening June 2018. With 22 letting rooms and a large restaurant and bar operation, this former Greene King site has already formed strong contacts with the local business and residential communities.
Awards Update:
Oakman Inns has also been informed that for the third year running they have achieved a maximum three-star accreditation in The Sunday Times 100 Best Companies To Work For 2018 which reflects extraordinary levels of workplace engagement.
Simultaneously, Oakman has been shortlisted for three categories at next year’s Publican Awards, for which judging starts this month. These are Best Pub Employer (501+ employees), Best Food Offer, and Best Managed Pub Company (2 to 50 sites).
EDITORS’ NOTES
Image of The White Hart, Ampthill is attached. Further images are available on this Dropbox link: https://www.dropbox.com/sh/cy56qhmpu61pfr8/AAAUc1Hdf8nYDT91jWlEK_Bga?dl=0
For further press information or interviews, please contact Belinda Boyd at 20-20 PR on 01793 780780 or 07831 488777. Or email [email protected].
About Oakman Inns: The company was founded by entrepreneur and CEO Peter Borg-Neal. The first Oakman Inn was The Akeman in Tring in 2007, which quickly won an award for outstanding design and conservation work, with which the pub group has become synonymous. The multiple award-winning company established the new concept of the ‘modern public house’ and has successfully transformed both historic and modern buildings into contemporary spaces that have a strong sense of identity and integration within the local communities that they serve. Offering a high standard of food, drink and service ‘The Oakman Collection’ comprises 20 contemporary Inns with letting rooms and ‘all-day’ pubs across Berkshire, Bedfordshire, Buckinghamshire, Essex, Hertfordshire, Northamptonshire, Oxfordshire, Warwickshire and the West Midlands. The Four Alls in Warwickshire is closed for refurbishment and will open along with three new sites in the first half of next year (see below).
The pub group is proud of its reputation for looking after its growing team. They have developed a specially designed training and career development academy called ‘Oakmanology’ to help each individual to be the best they can be.
In November, they were the first pub company to receive the Princess Royal Training Award for training excellence and won the British Institute of Innkeepers’ National Innovation in Training Award (NITA) for Best Casual Dining Training Programme. Ranked 8th in the Sunday Times Best 100 Companies to Work For 2017, it’s the highest rated hospitality company in the List. Over the last four years, the group has also won seven Publican Awards.
Ban the Straw campaign:
To mark Earth Day this year (22nd April 2017), Oakman Inns was the first UK pub group to ban all single-use plastic straws from their pubs, offering instead a biodegradable alternative on request. Quickly branded as #StrawsSuck, more pub and restaurant groups have joined them and it has even become the subject of legislation in some US States. The tens of thousands of unwanted straws inspired Oakman to commission a giant Green Man sculpture which was recently unveiled at re-opening of The Akeman in Tring, the group’s first pub.
W: www.oakmaninns.co.uk T: https://twitter.com/oakmaninns
The Oakman Collection comprises:
| Berkshire: |
Walter Arms, Sindlesham |
| Bedfordshire: | White Hart, Ampthill |
| Buckinghamshire: | Beech House, Beaconsfield
Dog & Badger, Medmenham The Akeman Inn, Kingswood Betsey Wynne, Swanbourne |
| Essex: | King’s Head, Chipping Ongar
The Anchor, Hullbridge |
| Hertfordshire: | Kings Arms, Berkhamsted
Banyers House, Royston Beech House, St Albans The Red Lion, Water End The Akeman, Tring |
| Northamptonshire: | The Navigation at Thrupp Wharf, Cosgrove |
| Oxfordshire: | The Crown & Thistle, Abingdon
The Old Post Office, Wallingford Blue Boar, Witney |
| Warwickshire: | The Globe, Warwick |
| West Midlands: | Beech House, Solihull |
| OPENING FIRST HALF 2018: | Beech House, Amersham
Cherry Tree, Olney Four Alls, Welford on Avon Royal Foresters, Ascot |
