Coffer Corporate Leisure
has completed the investment acquisition of Bath’s oldest pub. The Saracens
Head, Broad Street was purchased from the previous owners, Aprirose Real
Estate, to a private investor.

The property, which was
subject to a long lease to Spirit Pub Company, was sold for £2.9m which
reflected a Net Initial Yield of 4.50%.

Jack Silvani, Associate
Director, Coffer Corporate Leisure, said: “There is huge demand for defensible,
secure, income-producing assets at present. This pub has traded successfully
for over 300 years – no other commercial property types can offer this level of
continuity. We anticipate investor appetite for pubs of this calibre will
continue to increase, particularly from institutional investors who are
attracted by the liquidity of the assets.”

 Coffer Corporate Leisure
advised the private purchaser.