Seven Spirit Limited www.oldng.com
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Offer Information
Min Max
Investment Target £250,000 £400,000
Interest Rate info 6.40% 6.40%
Type of Bond Secured crowdbond
Term info 1,800 Days
Type of Repayment Interest Only
Security Information The bond is a loan to Seven Spirits Limited with additional security of the second charge on 213-215 Wellingborough Road, NN1 4EF property. The property is valued at £1.6 million with a first charge of just under £1 million.
Minimum Investment £100
Sector Hospitality
Location Northampton, United Kingdom
Company Number 07954333
IFISA Eligible YES - This Convertible Loan Note is
eligible for inclusion in the IFISA
Seven Spirit Limited
Seven Spirit Ltd is an independent bar & restaurant group which has four sites in Northampton. The Company is seeking a secured bond of up to £400,000. The bond will pay 6.4% pa with interest payments being made monthly.
About Seven Spirit Limited

Seven Spirit Ltd is an independent bar and restaurant group which currently operates four sites in Northampton: ‘Sazerac’ – a boutique cocktail bar, ‘Old House Northampton’, an English pub and kitchen, 'Lighthouse', an English pub and ‘Department of Meat and Social Affairs’, a bar and restaurant and multi-use venue which stages live music events and is also available to hire for private events. Seven Spirit Ltd has been trading for three years and has grown quickly during this time. Three of the four trading sites in its portfolio are owned by AZ Investments (a Director owned partnership).    

 

The competitive landscape in Northampton continues to develop, with people looking for quality venues to dine and socialise. Seven Spirit Ltd has developed a recognisable reputation over the  years for providing, quality venues with exceptional decor, food, drink and service and now filled a growing gap in the market in Northampton for a quality sports venue

Seven Spirit Ltd continues to look for new sites.

 

Bond and Security

The company is looking to raise a minimum of £250,000 and a maximum of £400,000 through the issue of up to 400,000 £1 bonds. The bond will pay interest of 6.4% pa on a monthly basis with return of principal on maturity (5 years).

The last set of unaudited management accounts up to November 2016 shows that the company has Net Assets of £922,079 and is trading profitably. Included in the figure of Net Assets are Directors Loans of £825,124. The Directors have agreed not to seek repayment of their loans until after the Crowd Bonds have been repaid. The Net Assets before Directors loans are £1,747,203.

While the Bond is the liability of the company it is additionally secured by way of a second charge on the property at 213-215 Wellingborough Road (a copy of the valuation document is attached under the documents section) and a picture of the property is shown below. The property is valued at £1.6 million and has a first charge of under £1 million, with debt-free equity of about £0.6 million.

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Seven Spirit Limited directors

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Seven Spirit Limited Documents

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Updates

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Offer Information
Min Max
Investment Target £250,000 £400,000
Interest Rate info 6.40% 6.40%
Type of Bond Secured crowdbond
Term info 1,800 Days
Type of Repayment Interest Only
Security Information The bond is a loan to Seven Spirits Limited with additional security of the second charge on 213-215 Wellingborough Road, NN1 4EF property. The property is valued at £1.6 million with a first charge of just under £1 million.
Minimum Investment £100
Sector Hospitality
Location Northampton, United Kingdom
Company Number 07954333
IFISA Eligible YES - This Convertible Loan Note is
eligible for inclusion in the IFISA

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