Sale and leaseback of The Old Shades, Whitehall
August 24, 2012
Coffer Corporate Leisure is pleased to announce the sale and leaseback of The Old Shades – a renowned public house adjacent to Trafalgar Square – on behalf of Kicking Horse Limited and their operating partner Faucet Inn Ltd. The freehold investment was sold to a private Malaysian investor for £5 million – a 4.62% Net Initial Yield.
Located on Whitehall, the successful pub operator Faucet Inn will continue to operate on a new 20 year lease. Faucet is a leading public house operator with 19 other establishments across London and four in the south east of England including The Warrington in Maida Vale, Sir Richard Steele in Belsize Park and Comptons in Soho.
Located on Whitehall, the pub trades over ground and basement levels with the three upper floors comprising five apartments.