A pubs group is opening in two new locations in Scotland, in Airdrie and Motherwell.
Amber Taverns is launching pubs in former retail premises in each of the Lanarkshire towns.
It is also opening new locations in Derby and Bridgend.
Amber Taverns, which will operate 170 freehold, community, wet-led pubs in the north-east and north-west of England, the Midlands, Wales and Scotland once the new locations are open, said all four sites would undergo “extensive investment and refurbishment” before reopening in spring next year.
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The group said: “Uniquely focused on the hybrid ‘operator-managed’ business model, Amber’s pubs are entirely wet-led. Focusing only on drink sales enables Amber to provide best-in-class value for money and a tailored wet-led offer with a pint for as little as £2.50 or less, together with strong sport - all Amber pubs have Sky and BT sport - and live entertainment.”
James Baer, chief executive of Amber Taverns, said: “We continue to see attractive opportunities in a variety of locations and the four new site acquisitions announced today gets our 2024 expansion ambitions off to an encouraging start, taking the company’s total number of pubs to 170.
“It is noteworthy that all four are situated in locations where Amber isn’t yet represented. Whilst we remain disciplined in our approach to acquisitions and the strict returns criteria we seek, we are confident that good-quality, well-invested pubs which provide their local communities with comfortable surroundings, reasonably priced drinks and a warm welcome will continue to thrive and prosper.”
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He added: “We take pride investing in these pubs and their communities, carrying out high-quality refurbishments which enable us to keep growing the business, underpinning the enduring appeal of a high-quality, local community pub. This reinforces our confidence in our growth plans for 2024 and beyond.”
Amber Taverns said trading “remains encouraging”, declaring: “The company’s beer volumes continue to outperform the market. Despite some wet and windy weather last week, pre-Christmas trading has been strong to date which should augur well for the upcoming festive period.”
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It added: “In addition to ongoing organic investment in the existing estate, Amber continues to build an encouraging pipeline of good, new site opportunities in pursuit of its aim to add approximately 15 new pubs to its growing portfolio each year.
“The company has consistently achieved historic high returns of [greater than] 20% on new freehold acquisitions and has lots of target towns within its existing geography to continue to expand its geographic footprint with well-invested pubs, at the heart of their communities with broad appeal, across the UK.”
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