Oakman Inns celebrates first decade with £2.6m acquisition from Punch Taverns

IMG_3028 The White Hart Ampthill – Facade v1 Lo res

Oakman Inns & Restaurants, which opened the doors of its first pub 10 years ago this week, has announced the acquisition of the Freehold of The White Hart, Ampthill from Punch Taverns for £2.6m.

The 23-strong portfolio of hospitality establishments across the Midlands has taken over the eight-bedroomed site in Bedfordshire after being run by Oakman Inns since 2015.

It had been operated under a 25-year Free-of-Tie lease after it had been closed for some years, and following a £1.2m investment by Oakman together with a £450k contribution by the landlords, the White Hart was restored to its former glory.

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When the opportunity to acquire the Freehold arose, Oakman Inns says it was ‘a very easy decision’, giving Punch a considerable premium to book value and allowing Oakman Inns to add to its 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.”

Across the rest of the group, building work is now underway at all three previously announced developments; The Beech House, Amersham due to open February 2018; The Cherry Tree, Olney opening in March 2018 and The Royal Foresters, Ascot due for launch in June 2018.

The company was founded by entrepreneur and CEO Peter Borg-Neal. The first Oakman Inn was The Akeman in Tring in 2007.

Tags : acquisitionshotelsOakmanPunch Taverns
Zoe Monk

The author Zoe Monk

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