Sale and leaseback of nine bars for Inventive Leisure
September 21, 2007
Coffer Corporate Leisure advised on the sale and leaseback of nine properties trading as Revolution Vodka bars.
Acting on behalf of Inventive leisure Limited and its major investor Alchemy Partners, Coffer Corporate Leisure ran a discreet off market sales process which resulted in the sale of the portfolio to experienced investor Aprirose Limited for between £17 and £19m with a net initial yield of around 6%.
The deal was done in a very tight time frame with a timescale from the initial meeting with Inventive Leisure to discuss the possible sale to completing the sale within 3 months. Revolution is a well established name with 50 outlets situated in prime high street locations in towns and cities throughout the UK. A number of bidders offered on the portfolio.