Six-figure investment planned for Sidmouth pub
- Credit: Archant
A chain is looking to invest a six-figure sum to fully refurbish a ‘true locals’ pub’ in Sidmouth – but it needs to find a new publican first.
Punch Taverns is offering a ‘foundation tenancy’ for the Volunteer Inn, which it says ‘already runs like clockwork’ and has a profit potential of £28,391 per annum.
The investment of around £110,000 will refresh the interior to create a ‘more harmonious’ ambience, with the trading area increased in size and the possible addition of a pool table.
The investment has not yet gone through to the design stage and it cannot go ahead without full approval and a publican lined up.
A statement from Punch says: “Set a short stroll from the seafront, the Volunteer is valued by residents as a traditional tavern where they can enjoy a great night out with mates.
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“However, with a full refurbishment on the cards, there’s no reason the pub shouldn’t be attracting trade from nearby bed and breakfast to bolster sales and profits.
“There’s the option of introducing a basic but good quality food offer, and the plan to reconfigure the trading area will vastly improve the customer experience – darts teams are already well bedded in and there’s scope to enhance sports further by bringing in a pool table.
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Punch’s website says its foundation tenancy offers maximum support and a cost-effective, flexible way to run a pub.
The statement adds: “This super prospect would suit a first-time operator who’s keen to walk into a well-loved pub that already runs like clockwork.
“The Volunteer enjoys plenty of good will from local residents, and it would prosper in the hands of a publican who can keep the tempo high with an ongoing range of parties and events.
“The new publican will want to get involved with local groups and activities including FolkWeek, and you may also have some ideas about developing a food offer that fits the bill – nothing too complicated, but good enough quality to pique the interest of locals and visitors.”
Figures from Punch say regulars at the pub collectively consumed more than 63,000 pints in the last 12 months.
Ron Miles, previously of the Balfour, is currently running the Volunteer on a temporary tenancy but he has put a bid to take it on long-term.
He said it is currently business as usual and the full complement of bands is booked in for FolkWeek. The marquee is set to go up on Monday or Tuesday.
Visit www.punchtaverns.com to learn more about taking the pub on.