Purchase of Walkabout, Lichfield
January 12, 2022
Coffer Corporate Leisure has advised a private client on the purchase of 13 Bird Street – a freehold public house investment in Lichfield trading as Walkabout.
The pub, arranged over basement, ground and first floors, is let to Stonegate Pub Company – the UK’s largest pub operator – on a long lease.
The terms of the transaction are confidential.
Jack Silvani, Director at Coffer Corporate Leisure, said “Over the last 12 months we have been involved in numerous pub transactions across the UK. The yield range has varied as a consequence of COVID-19 uncertainty. This has presented opportunities to invest in high-quality assets with strong underlying fundamentals and secure long-term income such as 13 Bird Street.
The property benefits from good covenant strength, large trading spaces including multiple outdoor seating areas, and is known to be a consistently strong trader”
Savills acted for the vendor, a private client.