Punch Taverns pub co-investors form Distinctive Inns
The new company will aim to open new pubs in the area following the success of the Riverside which was re-opened in 2011 after a £500k joint investment with Punch Taverns.
A second unnamed Punch Taverns pub in Nottingham will be the next project for Distinctive Inns with a similar investment deal planned with the Staffordshire-based pub company.
Investing in run-down pubs
James Bull jointly founded the company after 13 years as business relationship manager for pub operators Probably A Pub Company who specialise in investing in run-down pubs. Bull said the Riverside was also run down but had succesfuly been made more contemporary with the investment with partner Ross Tunaley who has a finance background.
"The pub has been a fantastic success. We held back on the marketing at first to ensure the offer was right. But once we were happy with every aspect we’ve never looked back," Bull said.
Speaking about the co-investment with Punch Taverns Bull added that: "Punch have the foresight to see past the initial cost that is required to refurbish an outlet to our standard and realise that this initial investment, in the right operator and site, will achieve the greatest possible returns for all parties."
Jon Harris, business relationship manager for Punch Taverns also welcomed the continued relationship with the new company and said "James and Ross have done a fantastic job at the Riverside and we’re looking forward to working with them on their next opening."
