Punch Taverns has invested £2 million into Punch pubs across Lancashire in the last six months, as part of their strategy to own a portfolio of the highest quality pubs in the UK. The Burton-based pub company has pledged an investment spend of £40 million this financial year.
As a result of the recent investments, this has led to over 50 new jobs created for people within the local area, and pubs benefitting include the Brook Tavern in Preston, Cardwell Arms in Adlington (Chorley), Bull & Dog in Burscough (Ormskirk) the Beaumont in Bolton and the Woodsman in Leyland.
One of the pubs to have seen a cash injection includes the Old Oak in Houghton, which had a £200,000 spend in March in partnership with AC investments, to completely transform the pub. Taking on 20 new staff from the local area and using locally-sourced produce, the Old Oak has become the hub of the community.
Owner Adam Chapman, said: “We can now cater for a wider market, including families, as there is something for everyone.
“We have been well-received by the local community and feedback has been very positive. The bar is much more welcoming now , has a very homely feel and we are seeing lots of old and new faces coming into The Old Oak – which is great!”
“The investment has strengthened our food offer using fresh local produce with a twist on pub classics and allows customers to build their own burgers – which are proving really popular and our newly refurbished bar provides a varied event calendar with both live entertainment and live sports.
“Since the investment the pub has been doing great and meeting all our expectations. Business has increased and our customers like what we have done to the pub which has been to restore the interior to its former glory as one of Houghton’s iconic pubs.
“We have had great support from Punch Taverns in the refurbishment of the bar and I know Managing Director Aziz Berisha and the team are enjoying welcoming customers back.”
The Study Room, Lancaster
Punch has also invested £450,000 in The Study Room in Lancaster – now a contemporary and stylish bar.
Mick Horan, who developed the Study Room brand, said that it was important that the location of its first venue could bring something new and exciting for customers in Lancaster. “I believe we have created a great environment for all and that is really paying off with the comments we have received from our customers,” he said.
“The food has really taken off, with our burgers and cocktails proving really popular. I think customers like the fact that provenance of products is extremely important to us and can support local business by using local suppliers for our food and drink.”
Punch’s business strategy
Stephen Allen, Head of Investment at Punch, explained how this forms part of Punch’s overall business strategy: “We own a range of pubs, varying from community locals to destination food venues, and by investing in our pubs we can create the highest quality pub estate in the UK.
“We believe that pubs are the hub of the community and by investing in our pubs it can create stronger business links with our Partners, like Adam and Mick, as well as the local community as pubs source staff and produce locally. From our investments alone, this has led to hundreds of new jobs created for people within the local areas.
“We are continuing to invest in our estate and are planning to spend approximately £40 million over the next year nationwide.”