Pub cluster opens nine more venues after regulars invest £ 9million
A pub and hotel operator has revealed plans for nine more locations after hundreds of regulars have invested Â£ 9million between them since the start of the pandemic.
After the first lockdown in March 2020, Oakman Group unveiled eight new locations – and nine more are in the works and are expected to open over the next 18 months.
Their domain will have grown by 60% to a total of 45 pubs / restaurants and hotels and the new properties are largely dormant spaces in market towns, such as old restaurants, shops or small supermarkets.
The growth will allow them to create 300 new jobs by summer 2023, bringing their total workforce to 2,000, necessitating a relocation of their headquarters to Hertfordshire to accommodate more team members.
Following the first two rounds of share sales which raised Â£ 9million, Oakman Group is now launching its third instant messenger which will allow even small investors to ‘own part of their premises’ and, at the same time, to take advantage of benefits such as substantial discounts on restaurants and hotel stays.
âWe aim to be at the heart of every community in which we operate, and that is why we want to offer as many people as possible, who share our passion for pubs, the chance to join us,â said Dermot King, CEO of Oakman Group.
âSometimes the word ‘investment’ scares people because they think they need a lot of money and it’s hard to do. But we make it remarkably simple and the investment levels start at just over Â£ 1,000. If an investor makes the most of their discounts and benefits, they will get most of them back in a year and keep their stake in the business.
New Oakman Group sites slated to open before summer 2023 include sites in Epsom, Watford, Ludlow, Thame and Gerrards Cross.
âOur previous two rounds of investments have raised over Â£ 9million and we have been able to welcome over 500 people into the Oakman family,â King added. âWhen we recently opened The Rose in Wokingham, these people were able to see exactly how their money had been put to good use. We invited investors and locals to the opening, and that will be the case every time we launch a new venue. Our investors and our community are the key to what we do.
The group even launched its own Innovative Finance ISA to allow its shareholders to earn tax-free interest on loans guaranteed by its freehold pubs.
To express your interest in investing in Oakman Group and request a copy of the MI, send an email [email protected] – more details on the advantages that investors can benefit from are available at www.oakmaninns.co.uk/loyalty-investors