Tring based Oakman Inns Group to grow pub and restaurant estate by 25%

    Multi-site pub and restaurant operator Oakman Group has secured a refinancing deal and has announced plan to secure its immediate future and increase the size of its estate by around 25%

    In a trading update local Tring based Oakman Inns, which operates 36 venues across the UK, said it had its "strongest ever pipeline" of new sites lined up.

    It is due to open two new pubs in the next two months, in both Buckingham and Tring, ahead of a further expansion into the Seafood restaurant market.

    The Grand Junction Arms has undergone two expansive refits since the group first  purchased the pub from Punch Taverns group, during covid lockdown in March 2020.

    To support its future growth Oakman Group has completed a massive £29m refinance of its position and freehold estate, with Cynergy Bank providing funding of £18m.

    Steven Kenee, the chief investment officer at Oakman Group, said: "The transaction significantly reduces our cost of capital, simplifies our corporate structure, and further strengthens the foundations from which our ambitious plans for the group will grow."

    The Group were seriously impacted during the covid crisis, and many locally thought the pub group would not survive.

    Despite the impact of the Omicron variant on festive trade, sales for the 31 weeks to 6 February were £37.9m – a 74.3% growth on last year when pubs were forced to close and 28% growth on the same period in 2020.

    Oakman Inns Group employs more than 1,400 people and has recently  launched a Chef Academy based at the nearby Woburn restaurant with rooms in an attempt to tackle well publicised ongoing staff shortages within the business, and indeed the catering sector, the project has been created to offer people the chance to retrain in a new career with a guaranteed catering job at the end of the course.

    Oakman Inns Group opened its first pub locally in the three counties in Tring in 2007.

    More from Local News

    TRING RADIO SOCIALS - HERTS BUCKS BEDS & BEYOND

    Latest Galleries

    Weather Outlook - 5 Days

    • Sun

      Sunny intervals

      19°C

    • Mon

      Heavy Rain

      18°C

    • Tue

      Sunny intervals

      19°C

    • Wed

      Heavy Rain

      20°C

    • Thu

      Light rain

      17°C

    DOWNLOAD THE TRING RADIO APP

    Listen on the move, at home, at work, in the car.

    • Available on the App Store
    • Available on Google Play
    • Just ask Amazon Alexa

    SHARE TRING RADIO APP WITH A FRIEND OR FAMILY

    DOWNLOAD THE APP FROM THE APPLE - ANDROID APP STORE

    Your Favourite Local Radio Station... - Across Herts Bucks and Beds