Cheshire-based bar group Living Ventures has launched a scheme to raise £750,000 from individual investors by offering them a 1% stake in its latest venture, the Manchester House restaurant in Spinningfields in Manchester.
Each 1% stake will cost £25,000 and will give shareholders a yearly yield, a dividend, access to priority bookings and a monthly expense account, according to the Manchester Evening News.
The scheme will fall under the Government's Enterprise Investment Scheme, which encourages individuals to invest in smaller UK firms by offering tax incentives.
Tim Bacon, managing director of Living Ventures, has teamed up with Aiden Byrne, the youngest chef to win a Michelin star in the UK, for the new venture. The pair are aiming for another star at Manchester House.
Bacon and his firm have already opened new ventures in Spinningfields, with Australia and the Alchemist.
The group which operates a total of 27 venues.
By Janet Harmer
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