A package of four freehold pubs let to Stonegate Pub Company Limited or its subsidiaries has been sold to private clients for £6.17m
A package of four freehold pubs let to Stonegate Pub Company Limited or its subsidiaries has been sold to private clients for £6.17m, M&C has learnt.
The four properties include a Yates’s and three unbranded pubs, all with index-linked uplifts throughout their 25 year term and a guarantee from the Stonegate covenant.
Mark Sheehan of Coffer Corporate Leisure, which advised the vendor, said: “This package sale demonstrates there is growing appetite for regional assets let to good quality covenants.
“We believe there is still excellent value offered by the pub investment market, particularly in the regions. Some of these assets have served as public houses for hundreds of years and are typically in excellent locations with consistent and strong trading profiles. They tend to dominate their local environment and are likely to continue to trade in the same manner for another 100 years.
“That said, it is absolutely crucial that when an investor considers a pub investment, or any leisure investment, they understand how the asset performs – both from a historical and current basis, together with its future potential.”
Acuitus acted on behalf of the private purchasers.
