Allsop on behalf of Aprirose, the real estate investment company, has completed on the freehold sale of 30 pubs for c.£100 million.
The 30 pubs, which are geographically located across England, were part of the portfolio of 45 assets, which were also acquired by Allsop for Aprirose from British Land in 2019, which are all leased to Greene King. The pubs included the Barmy Arms in Twickenham and The Feathers opposite the Cliveden Estate.
The discussions between both parties pre-date Covid-19 and follow a significant regearing of the leases across all the pubs.
Dale Johnstone comments:- “The sale of Project Winding Lake demonstrates the resilience of long and strong income even in Covid times. Interested parties were able to look past the fact that pubs have been a much beleaguered sector over the last 12 months and look ahead to what should be much more positive times for the leisure and hospitality industry. Covid has reinforced what an integral part of British culture that pubs perform and there have been few other things that have garnered as many Covid headlines.”
For more information about this deal please contact Dale Johnstone , +44 (0)20 7543 6796 / +44 (0)7788 554555 in the National Investment Team.