Upham Pub Company has completed the sale and leaseback of 14 of its individually branded pubs to CBRE Global Investors.
Represented by Savills, the deal enables the group to fund further expansion of the business. Last year the group appointed Savills to consider future funding options, with the process thought to include the potential sale of the business.
In the interim the business sold its brewing interests to concentrate on the pub estate, with Chris Phillips also stepping down as chief executive earlier this summer.
Each of the pubs is located in the south of England and have a combined total of 161 letting rooms. The group has retained the freehold for The Swan, Chiddingfold – the only other pub in its porfolio.
Kevin Marsh, head of licensed leisure at Savills, commented: “The Upham Pub Company has built up a portfolio of well-respected local pubs that benefitted from diversified income streams and large site areas, making them attractive to a range of prospective buyers.
“We are pleased to have secured a successful sale and leaseback for our client that enables them to fund further expansion of this highly respected managed house pub company.”
The pubs in the portfolio were: Winning Post, Winkfield; Navigator, Lower Swanwick; Thomas Lord, West Meon; Wheelwright’s Arms, Havant; White Hart, Overton; Peat Spade, Longstock; Running Horse, Littleton; Hawk Inn, Andover; Bunk Inn, Newbury; George Inn, Warminster; White Hart, South Harting; Station House, Haslemere; Weighbridge Brewhouse, Swindon; Mill at Gordleton, Hordle.
Upham completes sale and leaseback of pub collection
Upham Pub Company has completed the sale and leaseback of 14 of its 15 individually branded pubs to CBRE Global Investors. Represented by Savills, the deal enables the group to fund further expansion of the business, with the freehold retained for one site, The Swan Inn, in Chiddingfold. Last year the group appointed Savills to consider future funding options, with options at the time including the potential sale of the business.