Chairman Tim Martin said he looked forward to opening many more pubs.
Most of the investment will be channelled into developments in small and medium sized towns but London, Dublin, Glasgow, Edinburgh, Birmingham, Leeds and Galway will also get some of the money.
New pubs will open in Bourne, Waterford, Hamilton, Ely, Diss, Felixstowe, Newport Pagnell and Prestatyn.
Wetherspoon operates 875 pubs and 58 hotels across the British Isles and in November said that it would open between 10 and 15 pubs in the current financial year to July.
Last year, Wetherspoon’s spent £26.7mln investing in new pubs.