Autumn Pubs, the freehold pub company whose sites are managed by Pub People Company, has secured its fourth pub with funding from the pub-focused Enterprise Investment Scheme (EIS) fund from Downing Corporate Finance.
Meanwhile, the Downing Pub EIS has now raised over £9.5m out of its £15m target and remains open for subscription until 31 October 2013.
The Marr Lodge near Doncaster has been secured by Autumn Pubs for an undisclosed sum. An “extensive development” is due at the pub, including a full refurbishment of the interior.
Michael Hughes, investment director at Downing, said: “The acquisition of Marr Lodge supports our strategy to build a portfolio of pubs in the East Midlands that will be managed by Pub People. We have been pleased with the performance of the original three freehold pub purchases and are happy to be further supporting the company’s growth.”
