Downing has launched a new £5m fund in partnership with Oakman Inns, which has just secured its first site, MCA understands.
Apprise Pubs has acquired the Refectory on Hampton Hill High Street from Faucet Inn.
The pub, which is currently closed, is likely to take three to four months to refurbish.
Downing’s Steven Kenee told MCA that the fund was actively looking for new sites.
It is one of three new pubcos backed by Downing, including Grosvenor Pubs – the Jason Myers-led operator which is in discussions on its first site and Maverick Pubs – with West Berkshire Brewery – which is in legals on its second site.
Connie Start, associate director at Davis Coffer Lyons, which acted on the deal, said: “This is a good acquisition in an area with little competition. I’m sure Oakman Inns will be very successful in the area with their quality offering.”
