Oakman Inns & Restaurants has completed the £1.5m freehold acquisition of Westlands House, a former care home in Olney, Buckinghamshire.
The company will now begin preparations for a planning application to convert the Grade II-isted building into a new town-centre destination and hostelry, named The Cherry Tree which would create 40 jobs.
Chief Executive, Peter Borg-Neal said, “I have long been an admirer of Olney and have always wanted to have an Oakman Inn in the town.
'We like this part of the world, and the runaway success of the Navigation Inn at Cosgrove has provided further encouragement. We’re always looking to continue to grow our reputation for providing a modern, relaxing atmosphere and a welcoming environment.'
With this new site, Oakman now owns 18 pubs including Banyers House in Royston, which is set to open on 2 December. Additionally, contracts have been exchanged on a site in Amersham, and the firm is in advanced negotiations regarding a number of other sites.