Downing Crowd Update: Offers New 2% Interest P.A. Cash Offer on IFISA Accounts & Heads Back into the Pubs with Hedderwick

Hedderwick Limited has partnered again with Downing Crowd to revitalize UK pub culture.  In recent months, Downing Crowd also celebrated successful rounds with Oakman Inn’s The White Hart and Downoak Pub. This is an opportunity to lend to Hedderwick Limited and earn a fixed interest rate of 5.25% p.a. for up to 18 months. Tranche 1 closes April 5, 2018 7:00 AM. The Hedderwick Pub Bond 2 closing date is scheduled for April 5, 2018 7:00 AM (or earlier). At this writing, over £1,793,333 have been raised, with the final campaign goal of £2.33M in sight.

In March 2017 Hedderwick, a company that owns two freehold pub restaurants in Only and Royston, enjoyed a successful initial bond £1.87 million raise for Banyers House.  The large, attractive, Grade II-listed property situated in the affluent market town of Royston had only recently opened and the Olney site was awaiting planning approval to begin its refurbishment work. Following the local council’s decision to grant planning permission, a further £200,000 was raised in May 2017 to support the redevelopment, according to Downing Crowd. The second site, a 17th century, Grade II-listed building in the market town of Olney, was previously a care home; the site is being extensively redeveloped and is due to open as The Cherry Tree in March 2018.

[clickToTweet tweet=”UK Pubs: @downingcrowd partners with Hedderwick for @BanyersHouse & The Cherry Tree @downingllp @juliasgroves #crowdfunding” quote=”UK Pubs: @downingcrowd partners with Hedderwick for @BanyersHouse & The Cherry Tree @downingllp @juliasgroves #crowdfunding”]

Hedderwick indicates that Banyers House continues to perform well and is trading in line with expectations. The Olney site has undergone extensive refurbishment including an open plan kitchen and a function room upstairs. The estimated loan-to-value of the Hedderwick Pub Bond 2 is 42% based on an independent third-party review which has revalued the properties at a combined total of £5.515 million, as at 28 February 2018 based on Banyers House trading in line with forecasts and The Cherry Tree as a fully equipped, but closed pub restaurant.

In addition to the Hedderwick Pub Bond 2 offering, Downing Innovative Finance ISA has introduced a 2% interest p.a. on all cash held in its Innovative Finance ISA (IFISA) accounts until 30th June 2018.

The Downing IFISA can be used to hold its Crowd Bonds, which offer an average interest rate of 6.17% p.a. (weighted across all bonds to date). The new 2% p.a. cash offer is available to both new and existing IFISA investors, allowing clients to earn interest until they’re ready to invest, and taking some of the rush out of Isa season. Once an IFISA account has been opened, it must be funded with cash by midnight on 5 April 2018 to not lose this year’s Isa allowance. Investors then have three months to choose their bonds before the 2% runs out.

[clickToTweet tweet=”[email protected] first launched in March 2016 and has raised over £51 million on behalf of small UK businesses, successfully repaying over £18 million of capital and over £1.4 million of interest to investors. @downingllp @juliasgroves ” quote=”@Downingcrowd first launched in March 2016 and has raised over £51 million on behalf of small UK businesses, successfully repaying over £18 million of capital and over £1.4 million of interest to investors. @downingllp @juliasgroves “]

Since the launch of the Downing IFISA in November 2016, more than 41% of bond investors* have opened the tax wrapper, according to the platform. The Downing Crowd platform itself first launched in March 2016 and has raised over £51 million on behalf of small UK businesses, successfully repaying over £18 million of capital and over £1.4 million of interest to investors. The platform has 0% “bad debt” to date (when the Borrower fails to pay any interest and/or capital due to investors despite recovery attempts).


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