Cross Oak Inns adds fourth pub site to portfolio
Food-led pub group Cross Oak Inns has bought its fourth site in a £750,000 deal.
Cross Oak has purchased the freehold of the Inn on the Pond in Nutfield, Surrey.
Peter Eyles, chief executive of Cross Oaks, confirmed the Georgian inn, which was previously a country club, would close in February for refurbishment.
"It's a big site with an extension and large car park, and when we're done we'll reopen it with a 125-cover restaurant and separate bar area," said Eyles.
Cross Oak was set up in June 2005 through an Enterprise Investment Scheme. The tax efficient device attracted £2.3m of funding from investors, with another £800,000 raised since for expansion.
Eyles, who founded the conference hotel chain Hanover International in 1995, is aiming to increase the group to eight to ten freehold sites in the South-east.
It already owns the Poacher in Tudeley, Kent; the Kings Arms in Ockley, Surrey and the Ostrich in Colnbrook, Buckinghamshire.
Cross Oak Inns closer to raising £3.3m expansion fund >>
By Chris Druce
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