The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Redcomb founders return with first new site under Prospect Pubs & Bars

10 June 2019 by

The founders of Redcomb Pubs have announced the acquisition of their first freehold site under a new venture following the sale of the group to Young's in January.

Dan Shotton and Mark Draper confirmed the launch of Prospect Pubs & Bars alongside the acquisition of their first location - the Evenlode in Oxfordshire, purchased for £1.75m.

The 500 sq ft site currently incorporates a 150-cover restaurant and space for up to 160 outside across two terraces. The operators have earmarked a further £1.2m to enhance and expand the pub's dining and events space, as well as introducing 24 boutique, en-suite bathrooms.

It comes after Shotton and Draper successfully sold off the Redcomb pub group they had founded nine years prior, in a 15-site £34m deal with Young's, representing a multiple of 8.5 times EBITDA for the brand's portfolio.

Shotton said: "Following the successful sale of Redcomb earlier in the year, we are delighted to venture back into the exciting independent pub sector with the launch of Prospect Pubs & Bars. Our vision is to create a group of successful and profitable pubs and pubs with rooms that provide a well-positioned, premium offering that's accessible to all."
Draper added: "Our acquisition focus will be on large free of tie leases and freehold properties that offer the scope and opportunity for us to develop, extend and capitalise on the site's potential. "Evenlode ticked all the boxes on this front. Currently operating as a good solid business, the site, with our vision and investment, has huge potential to develop fresh and enhanced revenue streams through an improved dining, events and accommodation offering."
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking