Southwest multi-site operator takes on Star lease
The Fountain pub, Okehampton, is due to close from Sunday 6 March for a four-week refurbishment costing £220,000, undertaken by both Star and TQ2 limited, with a view of re-opening in April, in time for Easter.
Formed just before the start of the Covid pandemic by Claire Brierley and Anne Tallon, TQ2 Limited, which is named after the postcode of the company’s first site, now have a portfolio of six sites, including the Fountain, and is currently in the process of purchasing a freehold pub in Bideford, North Devon.
TQ2 Limited director Claire Brierley said: ““Anne and I have complementary skills. She has a background in accountancy and HR and I have over 20 years’ experience working in the pub trade.
Flying start
“In spite of lockdowns and restrictions, our business has got off to a flying start.
“Our plan is to have a portfolio of 12 freehold and leasehold pubs in the Southwest in the next two years as there are some great opportunities and given the right environment people are keen to get out and enjoy themselves.”
In addition to a top-to-toe redecoration and new furniture, a riverside restaurant is being created at the Fountain, with a further 12 covers added in the courtyard seating area, as well as new lighting, signage, furniture, and plants.
Cocktails will be introduced in the front bar, served alongside real ales, and a new HDTV screen is to be installed to show live sports.
New lease of life
The pub’s six rooms are also all being upgraded with new furniture, carpets, and en-suite bathrooms.
Star Pubs & Bars business development manager Andy Spry said: “We’re delighted Claire and Anne have added The Fountain to their portfolio. They’ve got a great track record of adding value to pubs and that’s all with the backdrop of the pandemic.
“The Fountain will be the only premium local in the area, which together with some great letting rooms, will broaden its appeal and give it a new lease of life.
“Their vision for premium community locals is spot on and just what Okehampton residents want. It looks set to be a real success.”
