On behalf of OLIM Property Ltd, Coffer Corporate Leisure
has completed the freehold acquisition of the Old Bell public house, in Old
Oxted near Reigate, Surrey.  With an annual rent of £134,398, the property
was bought from Aprirose for a sum of £2.34 million, reflecting a net initial
yield of 5.4 per cent.

The 21,000 sq ft pub is let to Spirit Pub Company until
2044 and operates under the Chef & Brewer brand. The property also includes
two flats in the upper parts with six bedrooms, function room, and a large beer
garden and car park.

Mark
Sheehan, Managing Director, Coffer Corporate Leisure, said: “We have handled
over £100 million worth of transactions in the pub and restaurant sector in
2016. There is insatiable demand for good pubs and restaurant assets. This is
an attractive property which has been a pub since the 15th Century and our
client liked the long term nature of the investment. A Surrey pub with a large
garden and carpark close to the A25 is always going to be in demand and pubs on
long term leases offer great security to investors.”