JDW completes £30.4m Dublin development
As reported by
The Morning Advertiser’s sister title
MCA Insight, JD Wetherspoon (JDW) has made the largest investment in its 41-year history in the development of Keavan’s Port pub and hotel in Dublin.
The operator completed the Camden Street Upper site in Dublin city centre having invested €33.4m (£30.4m) in its acquisition and development.
The 9,000 square foot site spans two floors and will feature 89 bedrooms alongside a 3,800 square foot garden across two courtyards.
JDW intends to hire 200 full and part-time staff at the pub, which is named after an ancient highway into Dublin of which Camden Street formed a part.
The independent owner and operator of 27 pubs across southern England and the West Midlands, the Oakman Group, is seeking £4.5m to accelerate plans to double its estate by 2026.
The £44m turnover Group, which employs in the region of 1,000 staff members and has been ranked in the top 30 of The Sunday Times 100 Best Companies to Work For five times, will shoot for a £4.5m target by selling shares at £2.75 each, with a minimum investment of 350 shares – or £962.50 per person.
While the Oakman Group has raised capital from an extended network of individual investors and word-of-mouth recommendations to fund its expansion over the past 13 years, its board now believes the time is right to open this up.