Wetherspoon to invest millions in pub development

By James McAllister

- Last updated on GMT

JD Wetherspoon to invest £145m in pub development expansion and upgrades Tim Martin

Related tags: Wetherspoon, Tim martin, Coronavirus, lockdown, expansion, Pub & bar

JD Wetherspoon is to invest £145m into developing new pubs and upgrading existing ones over the next 10 years.

The pub giant wants to kick start the programme within weeks of its pubs fully reopening, with founder and chairman Tim Martin saying the investment is conditional on the UK opening back up on a long-term basis. 

An initial £145m has been allocated for expansion and pub upgrades, with a further £750m long-term investment subsequently planned.

Wetherspoon has a pipeline of 18 new pubs planned, alongside 57 extensions and upgrades to its existing 871-strong pub estate.

These will be targeted in areas including Leeds, Birmingham, Newport Pagnell, Heswall, Sheffield, Felixstowe, Dublin, Haverfordwest, Carmarthen and Glasgow.

Once the first tranche is completed, Wetherspoon plans to open 15 new pubs and enlarge and upgrade 50 existing ones each year for 10 years.

“Our immediate investment will provide work for architects, contractors and builders as well as result in 2,000 new jobs for staff in our pubs," says Martin.

“We are geared up to start on the first projects within a few months. We are also committed to our long-term investment and job creation programme over the next decade.

“However, the investment is conditional on the UK opening back up again on a long-term basis, with no further lockdowns or the constant changing of rules.”

Related topics: Pubs & Bars, Business

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