CBRE Global Investors has completed the acquisition of a portfolio of seven public houses and a restaurant in Central London on behalf of separate account clients for an undisclosed sum.
The portfolio covers 37,463 sq ft (3,500 m2) and is currently occupied by a number of established national operators, including Ei Group PLC, 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, fund manager, CBRE Global Investors, 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.'
CBRE Global Investors was advised by AG&G and Fleurets. Savills advised the private vendor.
