RAB Retail Client Chilango seeks stores following successful Burrito Bond 2
08 March 2019
We are on the hunt for new sites for our client Chilango as they’ve secured over £3m to finance their latest store acquisition programme.
The established food brand currently operates 10 restaurants across London and a further site in Manchester.
Following the success of their first round of fundraising to expand their portfolio in 2014, the award-winning restauranteurs launched a second round of fundraising in October of last year. Their innovative investment opportunity ‘Burrito Bond 2’ has been an unprecedented success and has seen their original fundraising target extended from £1M to £3.25M. The chain will use the finance gained by the mini bond to aid growth.
Since Chilango opened its first London restaurant in 2007, the brand has enjoyed steady secure growth in a challenging trading environment. Last year the restaurants generated over £10M in sales and £1.7M in EBITDA with all 11 restaurants profitable. Along the way they have attracted support from the fast-food industry’s elite including: the former CEO of Domino’s Pizza, the former VP of McDonald’s and the former MD of Itsu. Each has invested in the chain, citing the vibrancy of the brand, originality of its offering and the scalability of the business’s model as motivating factors.
Acting as their retained Property Advisors we are now looking to help the brand build on its success. Their novel way of raising capital means they are now in an excellent position with a strong covenant to expand their portfolio and we are looking to secure additional restaurant sites on their behalf.
Chilango has identified a number of areas in Central London in high footfall locations for their target audience of students and young professionals. They are ideally looking for ground floor accommodation ranging between 500 – 2500 sq. ft. on sites located in and adjacent to residential areas, commercial/office areas, retail and or leisure areas, universities, hospitals and transport hubs.