INVEST RAISE ABOUT INSTITUTIONAL arrow_back BACK 28 August 2018 Downing LLP has provided £4.7 million of equity to Apprise Pubs Limited, a pub company seeking to acquire closed freehold sites in the Home Counties and convert them into high-quality gastropubs. The pubs will be operated by the multi-award winning[1] team at Oakman Inns. Apprise acquired its first site, the Refectory in Hampton Hill, in April 2018. This was followed in August by the acquisition of a closed site in the centre of Wokingham, which was previously operated by Café Rouge. Steve Kenee, Investment Director at Downing says: “Despite the headwinds facing the high street, we continue to see opportunities to back strong operators and food & beverage concepts. We know Peter Borg-Neal and the rest of the management team behind Oakman Inns well, having partnered with them for a number of years. They know that we can act quickly as and when opportunities present themselves and have a thorough understanding of the sector.” Peter Borg-Neal, CEO of Oakman Inns says: "We are delighted to be working with Downing on this new venture. Oakman Inns is currently growing strongly this year. In addition to delivering 10% like-for-like sales growth, in the 19 weeks to Sunday 11 August, we have had four hugely successful openings this year - including The Royal Foresters in Ascot which is averaging net turnover of £83k per week. However, these openings use vast amounts of capital; by delivering management contracts for Downing-backed businesses, we can grow our EBITDA without increasing capital investment any further." "Because we manage the entire process from site acquisition through the development process and then run the operation, we can ensure that the sites fit well into our operating system. This enables us to deliver great returns for investors while leveraging our powerful central resources and earning incremental profits." This latest investment in Apprise comes from Downing-managed VCT funds and Downing EIS. Downing is an experienced investor in the pub sector with over £100 million invested in pubs across the UK. - ends - For all press enquiries, please contact: Pamela Morris, PR Director at the lang cat 0131 202 6037 / 07712 515 503 pamela@langcatfinancial.com Jean Birrell, Downing LLP 07799555353 jean.birrell@downing.co.uk Downing Home Our story The team News & views Responsible investing Careers Contact us Invest Bonds EIS Estate planning Downing Fund Managers VCT Existing investor Investor centre Institutional Institutional investors Infrastructure asset management Raise Development Capital Energy Healthcare Leisure Property Wholesale Finance Ventures Ventures home About ventures Portfolio Ventures team Ventures careers Legal & support Privacy & cookie policy Information Security Policy Statement Terms and conditions Terms of business Inducement disclosure FAQs Pillar III Modern slavery statement Fraud prevention Complaints Social Twitter LinkedIn Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: St Magnus House, 3 Lower Thames Street, London EC3R 6HD. VAT Number: 112 940 149 We use cookies to ensure that we give you the best experience on our website. Click here for more information. DISMISS