New owners Martin, Sarah and Philip Barnaville paid £575,000 for the freehold interest of the Olde Yew Tree Inn. The trio own the Kestrel Inn at Marehay, Derbyshire, and this is their next venture. The Olde Yew Tree has a turnover of £350,000 with a net profit of approximately £81,000. Trade is split 47 wet to 53 food.
"My brother, my wife and I have been at the Kestrel Inn for six years and we have been looking for our next venture for about a year. When we saw the Yew Tree was on the market, we jumped at the chance because it's only five miles away, but a different offering," said Martin.
The Yew Tree is a food-led operation and the Barnavilles have adopted the previous owner's menu formula.
"We do two-course lunches and early doors dinners for £6.95 and then we have an a la carte menu from 7.30pm. In our first week we sold a record 81 Sunday roasts."
The Barnavilles hope to open four or five pubs in the future.
"In the fullness of time we would like to have a small pub company and lease the pubs out, ensuring the lessees are given every opportunity to make money - passing on things like barrelage discounts."