Authentic Alehouses is launching a bid to revitalise the great British pub with the help of a £5m loan-based crowdfunding campaign.
The pub redevelopment company is looking to raise the cash on the Crowdstacker platform to fund investment in currently under-performing pubs in excellent locations and with strong community ties. The money will be used to refurbish the sites before reopening them.
While maintaining the authenticity of those pubs identified as suitable for investment, the company intends to streamline and modernise their operation to ensure wastage is minimised and demand is met for higher quality food, a broader range of new drinks such as craft ales, and family-orientated entertainment.
Efficiency is intended to be improved by centralising key areas of operational management such as ordering and use of up-to-date sales data technology. To achieve this, Authentic Alehouses will outsource much of the day-to-day management of the re-opened pubs to Burning Night Group.
“We feel there is a huge opportunity out there for pubs and bars to reinvent themselves to meet the demands of a modern audience and remain relevant to a new generation,” says Allan Harper, CEO of Authentic Alehouses (pictured).
Investors in the loan are being offered a 6.5% pa gross interest rate, with the potential to earn income tax-free by investing via Crowdstacker’s Innovative Finance ISA.