Acquisition of £25m pub portfolio
June 23, 2013
Coffer Corporate Leisure acted for a Luxembourg entity in the purchase of 34 pubs in leading regional UK locations. The deal concludes Coffer Corporate Leisure's involvement in the Pumpster portfolio, from which it has acquired 71 properties over a two year period on behalf of retained clients. The portfolio as a whole comprised a combination of Slug and Lettuce, Yates's and various other brands trading in strong city centre locations. Managing Director, Mark Sheehan commented: "This regional transaction is the latest in a flurry of several we have recently been involved in. It's clear that confidence is now growing outside the Home Counties in a market which has been heavily London-centric since the downturn. We believe it is a fantastic time to buy and grow a regional business. It is also encouraging news for the pub sector which over the past few years has experienced a difficult time fraught with structural complications. Pub investment transactions require a trained hand to navigate. Our expertise enables us to provide a holistic overview of the various investment considerations one should consider. The underlying asset value, pub's trading history and quality of the incumbent management team are factors we are frequently employed to provide a specialist opinion on."