Aprirose launches Blackrose pub management company

24-Jun-2019 - Last updated on 24-Jun-2019 at 09:15 GMT

New venture: real estate investment company Aprirose’s new pub company, Blackrose, will manage 44 sites

London-based real estate investment company Aprirose has launched Blackrose – its own pub management company.

The company that has a portfolio of more than £1.5bn commercial and residential properties under its belt has launched the new 44-site pubco with a capital expenditure programme in place to modernise its venues.

According to its website, Blackrose represents “a new concept of pub management” with backing from Aprirose providing “the ability to react positively and quickly to business opportunities and new investments”.

The unveiling of Blackrose follows a string of acquisitions by Aprirose with the company acquiring both Wear Inns in a £22.4m deal and Spirit Pub Company’s branded pub portfolio from British Land for approximately £130m in the past year.

“The creation of our own pub management company is an exciting new development in the growth and evolution of our pub portfolio,” Gary Jones, Aprirose’s chief operating officer explained.

“It demonstrates our long-term commitment to the sector and will allow us to recruit industry-leading talent and drive value for our clients.

“We are actively looking for the right assets in the right locations to grow the portfolio further.”

Projects in the pipeline

The new company, which predominantly runs pubs in the north, will operate under managing director Daren Knipe, a veteran of roles at Punch Taverns, Enterprise Inns and Scottish & Newcastle.

Discussing the new venture, Knipe explained: “We have a clear structured business strategy for our pubs and the launch of Blackrose will allow us to play a key role in how we enhance and develop our assets.

“We have an experienced and skilful team in place that will allow us to hit the ground running and offer a seamless and best-in-class service to our customers.

“The pub portfolio is currently undergoing significant asset management and modernisation, and we have introduced a capital expenditure programme to ensure that we create a brand and a company that ensures consistency and quality of experience in all our premises.

“We aim to complete 15 capital development projects by the end of the year, with the relaunch of the first Blackrose pubs this summer.”