Flood-damaged Yorkshire pub offers shares to investors as it looks to buy freehold from Punch

Punch took the decision to put the Dusty Miller in Mytholmroyd up for sale as a result of the damage caused to the pub, but it is understood that the company has given licensees Anne and Angus Downie a month to purchase the freehold.

With the help of a marketing expert and the support of the local community and other businesses, the Downies have managed to raise £50,000 so far.

For the pub to re-open, they require an initial sum of between £200,000 and £225,000, which they hope will allow them to secure the freehold of the building. The total funding requirement is £320,000 after refurbishments and legal fees.

Those who invest in the pub will be given a share in the new company, Dusty Miller Inn Ltd.

“We have got about a month to try and get at least enough money to secure the building, and the rest will hopefully come after that so we can get up and running again,” said Anne Downie.

“We have had a really good response so far with a lot of people calling up to ask for prospectuses. and we all think now that it is going to go ahead. We have got about £50,000 so far, and we have been given an extra month to do it.

“The pub is the hub of the community. If people want things done in the village, we get things done for them.”

Andrew Halewood, who has marketing experience with companies including Coca Cola, is assisting the Downies with their campaign and Downie said “we couldn’t have done it without him.”

Pledges are being taken at gurqhfglzvyyre@yvir.pb.hx​, and a full investor prospectus available on request by calling Anne Downie on 01422885959.

A Punch Taverns spokesperson said: “We are in negotiations with the licensees about the future of the pub, however the nature of those negotiations remain confidential.”