A serial property developer plans to build 30 flats on the site of a landmark Lincoln pub where his grandfather once performed as a singer.
Ryan Carruthers of Venture Developments is using the Simple Crowdfunding website to raise £35,000 towards the acquisition of land upon which The Wildlife pub stood prior to its demolition.
The pub, on Birchwood Avenue, attracted large Saturday night crowds in the Sixties for its cabaret acts, which included Carruthers’ grandfather Desmond.
“The Wildlife pub was Desmond’s home from home, this is where he felt alive – he had showbusiness in his blood,” said Carruthers.
“The pub has been demolished for some time and the land is in dire need of development. One of the great things about property is you can create a lasting legacy.”
Venture Developments is being advised on the site acquisition by Sarah Miles and Rachael Bacon at Langleys Solicitors in Lincoln.
Subject to achieving planning permission, the new development will be named Desmond Court. The crowdfunding campaign has already surpassed its minimum raise of £10,000 and Venture Developments will fund any shortfall.
The company has managed a string of residential and commercial developments including the conversion of the George & Dragon pub on High Street, Lincoln, into apartments.
Carruthers added: “Crowdfunding is a new experience for us, which helps us to establish our brand and build relationships with new investors.
“Langleys has done all of our legal work and I can’t praise them highly enough. We like to move quickly and they are with us every step of the way with a high-quality service.”
Rachael Bacon, assistant solicitor at Langleys, said: “We love working with Ryan and his team because of their entrepreneurial flair and track record of quality developments that prove highly popular with buyers. We are pleased to support them through this latest project and can’t wait to see it progress.”