Dorset based family brewery, Hall & Woodhouse, has completed its largest ever investment programme into its Business Partnership (Tenanted) estate, including the two largest redevelopment projects undertaken by the company.
Well invested, quality public houses
The company’s strategy for the Business Partnership division is focused around building strong relationships with its Business Partners and part of this strategy includes having well invested, quality public houses. As such, Hall & Woodhouse has continued to grow its capital investment over the last 12 months, with the highest level of expenditure to date, equalling £3.45 million. This sum includes the brewer’s two largest ever Business Partnership investments: The Wisborough, a countryside pub in Sussex, and The Dragon, a food led public house based in Colgate, West Sussex.
New Business Partnership houses
During 2015, in line with the company’s strategy to grow its Business Partnership estate, Hall & Woodhouse also invested the equivalent of £6 million into new Business Partnership houses. This included the acquisition of The Boot Inn, Sarratt as well as the transfer of three sites from the Managed House Division.
Retention, tenure and turnover all improved
This continued investment allows Hall & Woodhouse to attract and retain high quality Business Partners, who can focus their time and effort on driving their businesses instead of worrying about property related issues. The results of which have contributed to Hall & Woodhouse achieving a 95 per cent retention rate amongst its new Business Partners for 2015, with the average length of tenure now over four years, compared to three years in 2010. The result of this is that the average annual net turnover per pub has increased for each of the past five years and currently stands at £414,000.
In addition, Hall & Woodhouse prides itself on offering a fair deal to its Business Partners and has calculated that the average Business Partner receives 54 per cent of net profit before the deduction of rent.
Matt Kearsey, Business Partnerships Director for Hall & Woodhouse, commented: “Investment has been a key aspect of our strategy during the past few years, as we look to build our business further and also ensure that our existing public house estate is of the highest standard possible. The impact of this has been hugely positive and we are thrilled that we can share this success with our Business Partners. Our first measure is to ensure our Business Partner’s profitability which in turn benefits the strength of our business. Growth of the Business Partner Division will remain important for 2016 and we will be looking to acquire additional businesses in the coming years.”
For more information click here