Tony Hussain is looking to invest £20 million in the Scottish hospitality sector, and is inviting any restaurant, bar and pub owners with plans of expansion, into his den.
The Managing Director of Dundee-based SHK Property and Investments is sympathetic to business owners who cannot improve or expand their sites due to banks becoming more stringent with loans over the world economy recession.
But it doesn’t look like he’ll be as tough as bank managers, or even TV Dragons Deborah Meaden or Duncan Bannatyne. He said: “Whereas a bank will typically base its lending decision on an operator’s current financial position the main question I’m more likely to be seeking an answer to is whether or not I can see an opportunity to add value to an operator’s business through judicious investment.
“I have far more scope to consider a broader range of criteria, such as an operator’s track record and reputation within the sector.”
SHK are proposing to invest in businesses by providing an individually tailored, flexible funding package, by purchasing and refurbishing potential properties for future outlets, and leasing them back to the business.
“Part of the appeal of such an innovative arrangement is that it will not require business owners to stump up the same level of security required by a bank since we regard ownership of the property as providing a degree of security against risk.”