Investment

Continually improving retail and service standards in our pubs is vital to Punch Taverns and our licensees. Pub development is a primary way to achieve this goal.



Punch Taverns have invested £46 million in over 750 pubs in the 28 weeks to 1 March 2008.

All of the developments are project managed and funded in partnership with our licensees, from small schemes to brighten up a pub, to major investments which include structural changes and building work.

The lifecycle of a typical pub development is as follows:

• Investment opportunities are explored on completion of a business plan, profit and loss forecast, and cash flow forecast by the licensee
• Feasible opportunities are progressed to a design presentation stage within eight weeks of receiving the retailer's completed business plan
• Following design approval by the licensee, the costs for the proposal will be established and any statutory approval applications made
• Punch Taverns will approve or decline the proposal within four weeks of receiving final costs
• For all investments over £30k, licensees and their staff receive investment support training to help them maximise the opportunities presented by their newly improved facilities
• Two weeks before work starts, we will hold a pre-contract meeting which seeks to ensure that the licensee is happy with the final design, the programme of works and the financial commitment to the project
• Throughout the refurbishment programme, our Project Managers hold regular site meetings with the licensee to ensure that they are totally satisfied with how the development is progressing
• On completion of the project there will be a formal handover meeting, followed by a review meeting within two weeks
• Within eight weeks of completion the support team will have a structured review meeting to monitor progress to the business plan