EEF Venues has launched a capital expenditure fund designed to will finance a series of renovations across the three-venue group. Named ‘The Engine Room’, the fund will underwrite extension work across all three venues over the next three years.
“We’re constantly looking to advance our existing facilities, build more spaces, and refurbish existing ones, in order to fulfil the enquiry demands of our customers and ensure they can always come to our venues, whenever they want to,” commented EEF Venues MD David Vaughton.
“We have a healthy capital expenditure budget that we’re branding ‘The Engine Room’ as a statement to our customers and our staff on our ambitions to fuel growth across the business.”
EEF Venues is budgeting for 4.5% growth on the back of a strong year and has aspirations to break the £7m turnover mark across the brand.
The group reports 39% growth over the past four years, and the addition of £1.9m incremental revenue over that period.
“The 2018 market is, in many ways similar to 2017. It’s tough to operate in, but if you keep your customers loyal and returning, then there is the opportunity to grow on an individual venue level, as well as a brand,” Vaughton added. “To do this we need to show our commitment to our clients by constantly reinvesting in the properties, but to also ensure that we are never full when they need us. That is what The Engine Room is all about.”
EEF Venues include Woodland Grange, near Birmingham; Broadway House in London and Engineers’ House in Bristol.
