Tyne Bank Brewery seek investment to expand

Tyne Bank Brewery seek investment to expand

Tyne Bank Brewery in Newcastle has launched a crowdfunding campaign on Crowdcube, and is seeking to raise £150,000 to scale up production and upgrade its premises.

The company is looking to open a visitor attraction brewery including a craft beer tap room, event space and a kegging, bottling and canning line.

The move to a larger building comes ahead of a period of growth for the business, which has already outgrown its previous home in just five years.

Tyne Bank Brewery is forecasting its turnover will increase from £342k to £1.3M by 2020 and the addition of a packaging line would increase that turnover even further to £1.7M.

Julia Austin, founder of Tyne Bank Brewery, said: “After a lot of research we have found large characterful leasehold premises a stone’s throw from the existing brewery and at over four times the size of our current unit, it is perfect to put our exciting plans in place. “

Tyne Bank believes that competing breweries will want to use its contract packaging services, especially the canning capacity, as these services are uncommon and the canning line would be the first in the North East, with flexibility to also bottle and keg.

At the time of writing the brewery had already raised £44,750, 29% of its target, in just one week.

It now has 23 days left to raise the remaining £105,250 and is offering shares in the company to people who contribute to the funds.

Julia said: “From £10 to £50,000 we’re offering the opportunity to invest and own an equity stake in Tyne Bank Brewery and in return we offer our shareholders a unique experience, ensuring they are truly engaged with us and most definitely enjoying the ride.

“We want to share the journey with people that will help us grow and are passionate in making Tyne Bank Brewery one of the North’s most progressive craft breweries.”