Punch's 1st 'free of tie on cask' lease

Punch Taverns has completed its first 'free of tie on cask ales' lease agreement with a microbrewer.

The company has leased the Fleece in Otley, West Yorkshire, to the WharfeBank Brewery.

Martin Kellaway, previously of Caledonian Brewery, opened WharfeBank Brewery in May 2010.

Brewing has always been the core element of Kellaway's business, but he was seeking a retail venture as a way to showcase WharfeBank's selection of ales along with other brewers' beers not readily available in Yorkshire.

Kellaway said: "After leaving Caledonian three years ago, it's been incredible to see my dream of building a brewery come to fruition. Part of that strategy was to have a pub business where we could offer our beers along with showcasing some of the very best produce that Yorkshire has to offer.

"We want to create a welcoming environment at the Fleece, serving the needs of the community and visitors to the town."

Investment​

The Fleece, built in 1810 and situated in a riverbank location, is undergoing a joint £400,000 investment.

Kellaway added: "I started talking to our Punch business relationship manager, Andy Brady, about the prospect of taking on the pub and building a strong partnership with Punch. This is a learning curve for us and the backing and support of Punch in our first joint venture will be crucial."

Leeds North West MP Greg Mullholland said: "I am delighted that the Fleece is going to become Wharfebank Brewery's first pub — this is great news for them and for Otley.

"This is a very exciting development and I look forward to the reopening and visiting the Fleece again to enjoy Wharfebank's beer in this fine old pub with Otley's only riverside beer garden".

Punch Partnerships managing director Roger Whiteside said: "This is a great example of how we are working with our partners to offer them scope and flexibility to develop businesses with strong potential."