Albert Dock opening after £2.7m Pubco deal

Simon Donohue

New World Pubco has exchanged contracts on a 5,000 sq ft site within the Britannia Pavilion at Liverpool's Albert Dock and will look for further expansion opportunities after raising £2.7m in development capital.

Founded and developed by Tim Bacon and Jeremy Roberts of Living Ventures in 2011, New World World Pubco operates two pub brands – the Oast House and the Botanist.

Its founders have sold minority stakes to Hill Capital Partners Food & Beverage Fund, the specialist fund operated by former Pizza Express finance director Paul Campbell, and LDC, in exchange for the investment.

Roberts said work would start on site at the Albert Dock within the next few months and that the venue would "probably open as a Botanist".

He added: "We are looking at several other opportunities in the north west and also in London."

Living Ventures already operates a Gusto restaurant at the Albert Dock.

The first Oast House, in Spinningfields, Manchester, recently won the award for Best New Site 2013 at The Publican Awards.Oast House Spinningfields

The first Botanist opened in Alderley Edge, Cheshire, followed by a second Botanist at the new Leeds Trinity shopping scheme last month.

Following the investment a dedicated operational management team will continue to lead the business' expansion into new pub locations across the UK.

Campbell and the Living Ventures founders will be non-executive directors of New World Pubco.

Campbell, founder of Hill Capital Partners LLP, said: "As a customer I was immediately won over by the fantastic drinks and food, and also the unique décor of the pubs. I am excited to be supporting the expansion of this excellent business across the UK."

Richard Barley, investment director at LDC, said: "Backing high quality management teams in high growth innovative businesses is at the heart of LDC and this investment exemplifies this focus, whilst demonstrating our continued commitment to invest in ambitious regional businesses."

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What a beautiful picture of the Albert Dock.

By peter

This view now ‘blocked out’ by two big ugly blocks.

By Steven

I like them but in any case it was the Albert Dock I was talking about.

By peter

No it’s not. The Black blocks obscure views of the tunnel ventilation shaft and the Port of Liverpool. A view held dear by some, but not by all. Being on the opening credits of North West Tonight does not make something iconic. In any event, the view from the Tate has also been massively enhanced by the new blocks and the fact of the matter is, people LIVE in that area now. Live there. Eat there. Drink there. Work there. It’s more alive than ever.

By MrD