Mosaic Pub & Dining – formerly known as City Pub EIS Fund – is to grow its Birmingham estate to four this year, MCA has learnt.
The group has acquired the former Fiddle & Bone site in Sherborne Wharf, which will relaunch next month hosting the group’s first distillery.
James Watson, Mosaic’s finance director, told MCA the group had also acquired the building next to its Button Factory site in the city’s Jewellery Quarter, which would house two new concepts.
The currently eight-strong group completed a £15m fund raise earlier this year through the Enterprise Investment Scheme and Watson said another round would take place in 17/18.
He said the group was in advanced discussions with landlords of major retail schemes as it looked to expand into leasehold sites. He also said the group was looking at several sites in London.
On the new Birmingham pub, which will be called The Distillery, he said: “It was a music venue but didn’t quite work out so we wanted to try something different with it. We think it’ll have a real wow factor and it’s exciting to try something different.
“We are looking at a lot of different avenues for growth, some dictated by the change to EIS rules, although in all honesty we were tending to look at alternative venues anyway.”
