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In 2006, NVM backed long standing pub entrepreneurs, John Weir and John Sands, to set up Wear Inns – a company focused on acquiring and managing a chain of community pubs across the North East and Yorkshire.
Managed freehold pub estate in the North of England.
Development capital for acquisitions. NVM invested £6.2m.
To build up a portfolio of managed community pubs.
The management team has established a reputation as credible acquirers in the market, developing a winning formula of purchasing well-located and often underperforming pubs with huge potential. The pubs are run and staffed by Wear Inns’ employees, to ensure a consistent management approach and high levels of customer service – without eroding the independent feel and atmosphere.
The pubs are predominantly wet-led and one of the benefits of being managed rather than tenanted is that the managers have more of a say in the range of products sold.
NVM joined forces with the Business Growth Fund in 2012 to pump a further £10m into Wear Inns’ acquisition strategy. The Wear team used the funding to acquire a further 11 pubs from TCG, bringing their total estate to 26 premises.
John Weir, Managing Director of Wear Inns