In a trading update the group, which operates 36 pubs, says it wants to hit this opening target by June 2026. It has already secured planning permission for sites in Watford, Epsom and Ludlow, which are due to open next year, and has acquired a freehold site in Harpenden where it is looking to develop a three-storey pub with a roof terrace.
Negotiations are also at an advanced stage for a site in Gerrards Cross and for further locations in Oxfordshire, Hertfordshire and Lancashire, according to the pub group.
Since the start of the pandemic, Oakman has added nine new sites to its estate, comprising six Seafood Pubs, The Grand Junction at Bulbourne near Tring, The Woburn, in Woburn, and The Rose in Wokingham, taking its portfolio to 36.
Oakman has reported a turnover of £26m for the 21 weeks to 5 December with a like-for-like sales growth of 16.3% compared to the same period in 2019.
It also expects to not to be negatively impacted by the introduction of Plan B restrictions that were brought in by the Government last week, with cancelled corporate bookings being taken up by family ones instead.
“We are not unduly concerned by the Plan B restrictions,” says chief executive Dermot King. “Although we have seen some corporate bookings cancelled, they are being rapidly replaced by smaller, family bookings and I expect Christmas trading to be very strong.”
Executive chairman Peter Borg-Neal says that all of Oakman’s new sites are performing ahead of expectations and that the group has “by far the best pipeline we have ever had”.
Oakman has forecast year-end sales of around £64m.
