Downing Corporate Finance aims to raise £16m from pub deal
Downing Corporate Finance plans to raise up to £16m via its recently-launched Enterprise Investment Scheme (EIS) to invest in a portfolio of freehold and long-leasehold pubs.
The company, which has previously provided funding for groups including Antic and Oak Taverns, plans
to focus on acquiring pubs in the Midlands and the south-east.
The group has previously raised £60m through 12 EIS funds in the past four years.
Downing will also look at investment opportunities across the restaurants, late-night bars and nightclub sectors. It aims to provide an exit for investors after five years.
Downing currently manages investments in a total of 36 pubs located in different parts of the UK, operated by 12 different management teams.
It is understood that the new scheme is targeting exit proceeds of £1.10 in about five years for each net 70p invested.
