CBRE GI acquires pub portfolio in Central London
CBRE Global Investors has bought a portfolio of seven public houses and a restaurant in Central London on behalf of separate account clients.
CBRE GI said the portfolio, which was acquired for an undisclosed sum, covers around 37,463sqft and is currently occupied by a number of national operators, including Ei Group, 333 Estates Ltd and Greene King.
The majority of the assets are held on leases of 15 years or more with open market rent reviews.
Oliver Scoular, a fund manager at CBRE GI, said: “This represents a rare opportunity to invest in a prime London public house portfolio, which is suitable for a number of our clients.
“The assets are expected to be long-term holds to take advantage of the strength of demand for well-located London public houses and their historic inflation tracking rental characteristics, which we expect to continue in the future.”