Board · 79 South Street, Exeter
An Investment Opportunity for Board
We are seeking investment to help reopen Board and complete our expansion into the neighbouring premises.
Board is an independent board game bar and restaurant at 79 South Street, Exeter, established in 2015. We are currently closed following financial difficulties associated with an intended expansion. This page explains our circumstances, the work already undertaken and the opportunity we are exploring with a suitable investor.
Updated October 2026 Information for prospective investors
Our Current Situation
In 2024 Board took on the lease for the vacant adjoining premises at 80 South Street with the plan to expand into a double-sized unit with additional seating capacity. This incurred substantial rental liabilities and fit-out costs before the additional space could open and generate income.
This placed considerable pressure on the business’s finances and resulted in rent arrears with our landlord, Exeter City Council. In October 2026, the Council forfeited our lease, requiring Board to close.
We are exploring investment alongside discussions concerning the lease position, with the aim of reopening. The lease position remains unresolved, and reopening depends on reaching an appropriate agreement with the landlord.
The Business and Its Potential
Board has been part of Exeter’s hospitality and leisure scene since 2015, with a recognisable brand and an existing customer base. Our team helps people discover games and enjoy them together, alongside food and drinks.
During 2026, changes to management, marketing and operational efficiency strengthened trading performance before the closure. Improved staffing efficiency and other operational changes also reduced costs.
At busy periods, demand frequently exceeded our available space, and we turned customers away at weekends. These improvements and that existing demand provide a basis for considering recovery, although neither future profitability nor a successful reopening is assured.
Our Plans for Expansion
The plan is to connect 80 South Street to our existing premises through a structural knock-through of the two units, creating one combined venue. This is a central part of our proposed recovery and growth strategy.
The expansion would increase our tables from 9 to 16 and provide approximately 54 covers in total: an increase in customer seating capacity of around 65%. It would allow us to accommodate more of the customers we previously had to turn away during our busy weekday evenings and weekends.
There would be additional premises costs and increased variable costs, however much of the existing management, staffing and operational infrastructure could support the additional custom without a proportionate increase in many operating costs. The aim is to improve the business' overall sales and profitability as a result of the additional capacity.
What We’re Looking For
We welcome enquiries from investors considering an investment of £10,000 or more.
We are also open to discussions with a single principal investor interested in acquiring a significant stake in the business, potentially including full ownership.
The investment is intended to:
- Immediately re-open the existing operation and resume trading.
- Support a satisfactory resolution of the lease position with Exeter City Council.
- Complete the fit-out and connection of the two premises.
We welcome serious enquiries from experienced businesspeople or investors who understand the circumstances and risks involved. Reopening remains conditional on resolving the lease position and other necessary arrangements.
Detailed financial information, liabilities, operating forecasts and potential investment arrangements are available for confidential discussion with suitable prospective investors. All commercial terms remain negotiable.
Interested in Learning More?
If you would like to discuss the opportunity, please email invest@board.uk with your name, organisation (if applicable), and a brief introduction about yourself and background.
Further information can be made available to appropriate interested parties following an initial enquiry and any necessary eligibility checks. The investor information pack will be shared privately following an initial review.
This page is for preliminary enquiries and is not an offer of shares or securities. Any investment would involve risk, including the potential loss of capital. Further information and discussions are subject to appropriate checks and legal requirements.