Investment purchase of The Londesborough, Stoke Newington
August 30, 2019
Coffer Corporate Leisure (CCL) has advised on the acquisition of The Londesborough public house, Stoke Newington, on behalf of the Trustees of the Wanderslore Pension Scheme and Pearl & Coutts. The freehold pub which is let to EI Group on a 35-year lease, expiring in January 2046, is subject to a passing rent of £70,000 per annum.
Located on a prominent corner in the popular Stoke Newington, The Londesborough comprises an attractive Victorian property situated in an affluent residential suburb and boasts a large beer garden.
Lawrence Telford, Director, Coffer Corporate Leisure, said “Demand for quality London pub investments remains very strong despite the uncertain political and economic backdrop. Many of these pub assets have traded successfully for over a hundred years and provide investors with secure investments, underpinned by solid real estate fundamentals. The pub sector is trading robustly and continues to attract investment from both domestic and international investors – as evidenced by the recent deal announcements of Stonegate Pub Company’s acquisition of EI Group for £3 billion; and Hong Kong’s CKA Group’s purchase of Greene King for £4.6 billion”.
Coffer Corporate Leisure advised the purchaser, the Trustees of the Wanderslore Pension Scheme and Pearl & Coutts. ADS Real Estate Advisors acted for the vendor.