Coffer Corporate Leisure completes Islington Acquisition

June 26, 2018

Coffer Corporate Leisure completes Islington Acquisition

Coffer Corporate Leisure has advised an overseas client on the acquisition of 153 Upper Street, London N1 – a long-let public house investment.

The property is let to EI Group (formerly Enterprise Inns) on a 35 year lease from 2010, providing an unexpired term of 27 years. The purchase price of £2,100,000 reflected a Net Initial Yield of 3.69%.

Jack Silvani, Director at Coffer Corporate Leisure said “Appetite for assets providing long-dated, secure income remains robust. This is particularly prevalent in the prime/sub-prime markets where we continue to observe a supply/demand imbalance and, consequently, further contraction of investment yields. The pub investment market has been one of the greatest benefactors of this trend with prime assets often transacting at the 3% level, or even sharper.”

AG&G acted for the Vendor, a private investor. Coffer Corporate Leisure acted for the Purchaser, a private investor.