Close Investment is to launch a new enterprise investment scheme (EIS) company, the Close Imperial Pub Company, which aims to open gastro-pubs in central and southern England, writes Paul Charity.
Money raised by the scheme, which will be headed by Tony Carson, founder of Taipen Taverns, will be used to buy six to eight freehold and long leasehold pubs.
The company has identified two types of target pubs – “Gastro Destination Dining” and “Bistro Quality Suburban
Local”.
The latter type will be in urban areas and will focus on “more traditional pub values” but with a “reputation for quality food”.
Meanwhile, the company's “Gastro Destination Dining” sites will be up to 20 minutes away from large affluent conurbations.
The Close Imperial Pub Company will aim to generate a minimum return of £1.20 per share - a 50% increase in value on the 80p net cost per share.
Carson, who will be chief executive of Close Imperial Pub Company and founded the Jim Thompson’s Oriental Restaurants chain, said: “Our award winning track record combined with a proven concept makes The Close Imperial Pub Company a very exciting investment opportunity.”
Kris Gumbrell, an operations director at Greene King, will be chief operating officer and Mark Crowther, the former Carlsberg on-trade director who takes over as chief executive at tenanted operator London Town next month, will be a non-executive director.
