Enterprise Inns commercial property portfolio sale
June 8, 2016
On behalf of Enterprise Inns, leisure investment property specialists Coffer Corporate Leisure, has advised on the sale of a portfolio of 22 commercial properties, comprising 17 pubs and five convenience stores for a sum of £20million.
The portfolio was acquired by a private buyer, a UK institution, representing a gross yield of 6.7 per cent based upon the gross rental income of £1.34million. The properties are located right across the UK, and contain a mixture of both multiple and individual operators, with 17 different tenants in total.
The disposal was part of the Enterprise Inns commercial property portfolio.
Mark Sheehan, Managing Director, Coffer Corporate Leisure, said, "This portfolio sale shows a clear and robust appetite for pub investments. Investors like pubs for the security of long term income and the flexibility of underlying property value. We expect to see continued strong demand for good assets across the UK."
Coffer Corporate Leisure advised the vendor on the deal.