Coffer Corporate Completes Newcastle Leisure Buy
November 15, 2016
On behalf of a private client, leisure investment specialists Coffer Corporate Leisure has completed the acquisition of a flagship leisure investment in Newcastle Upon Tyne for £2.85 million in an off-market transaction.
The landmark, Grade II Listed Building, located at 26 Mosely Street, occupies a prominent position in the City Centre in the main leisure circuit. The ground and basement are let to Mitchells & Butlers on a long, index-linked lease.
Jack Silvani, Associate Director Coffer Corporate Leisure said This is an extremely defensible asset – prime real estate in the heart of Newcastles traditional leisure circuit, let to one of the market leading operators.
Investors are looking further afield to achieve attractive returns which has enhanced appetite for assets in strong regional cities such as Newcastle, Manchester and Leeds.
Coffer Corporate Leisure and Bruce Gillingham Pollard advised the Purchaser. The Vendor, a fund of Kames Capital, was advised by Lewis & Partners.