Joe Smith, pub estates and operations director for Camerons, told M&C Report the company’s tenanted and leased division would probably not grow in the next 18 months but said this did not mean things were standing still. He said a new suite of tenancy agreements would be introduced, including an entry-level 12-month offer.
He said: “When I started at Camerons, we had three managed sites and 65 leased and tenanted. The company now has 13 managed with another two due to open before Christmas and 61 core leased and tenanted pubs all on substantive agreements. We will be looking at adding another six or seven acquisitions during the next six to 12 months.
“We are looking at sites right across the north of England, including Harrogate, York, Leeds, Newcastle and maybe another site
in Sunderland."
Head of Steam brand
Smith added: “Our Head of Steam is a fantastic brand with wonderful beer innovation being at its core and we are going to take the brand forward. We intend to grow the brand at a sensible and realistic rate with quality and location being the driver, not just expansion for numbers sake. We also have a great brand in our Blue Lounge Pub & Kitchen sites that provides a quality offer to meet the more mainstream needs.
“What is very important to me is that if we are going to have brands then they are strong brands.
“I don’t want to have one great concept and then the other one loses face. We need to promote and develop both our brands. That is something you see our competitors failing on — they develop too many brands and lose direction.”
He said about 50% of the tenanted and leased estate had seen reinvestment.
Smith said Camerons was bringing in a new suite of agreements which included three models: a variable length of term tenancy; a variable length of term lease; and an entry agreement.