Sale of 1 Islington Green, N1
October 23, 2021
Coffer Corporate Leisure has advised a private client on the sale of 1 Islington Green – a freehold public house investment trading as Fox on the Green.
The pub is let to Stonegate Pub Company, the UK’s largest pub company, for a further 18 years.
The price of £4million reflected a Net Initial Yield of 3.5%.
Jack Silvani, Director at Coffer Corporate Leisure said “In the past month we have been involved in a succession of investment transactions in the leisure sector where pricing has recovered to pre-covid levels. The transactions have spanned most leisure subsectors including pubs, restaurants and health and fitness.
Whilst this demonstrates the swift return of investor confidence to the leisure sector, underlying property fundamentals – location, alternative occupier demand and use value – remain key. Sharp yields are being achieved for assets proven to provide defensive income in spite of the challenges faced over the past 18 months.
We expect continued activity in the sector as frustrated capital which has built up over the COVID period continues to be deployed.”
Coffer Corporate Leisure acted on behalf of the vendor, a private client.