Disposal of a Greene King pub investment on behalf of CBRE Global Investors
March 29, 2013
Coffer Corporate Leisure, part of the Coffer Group, acted on behalf of CBRE Global Investors in the disposal of a Greene King pub investment – The Duchess in Colchester.
The Duchess, situated in a prime high street position, is let to Greene King with 18 years unexpired on the lease. The investment sold off a net initial yield of 6.30% following considerable interest and competitive bidding.
CCL Director, Lawrence Telford, said we were delighted to sell this quality asset on behalf of the Merchant Navy Ratings Pension Fund managed by CBRE Global Investors. The property was let to a great covenant in Greene King, and comprised an attractive property, positioned in a prime position in central Colchester. Despite the difficult economic conditions, particularly in the regions, we were very encouraged with the considerable level of interest during the marketing process and our client was very pleased with the price achieved.