Sale of Clapham Tap Public House, Clapham
May 19, 2021
Coffer Corporate Leisure has advised LaSalle Investment Management on the investment sale of 128 Clapham Manor Street – trading as The Clapham Tap.
The property is let to Ei Group (now part of Stonegate Pub Company) on a long lease expiring in 2051. The lease provides for RPI-linked uplifts.
The terms of the transaction are confidential.
Mark Sheehan, Managing Director at Coffer Corporate Leisure, said “There has been a mood shift with the reopening of the hospitality sector, which has driven momentum into the investment market. We have completed a number of public house transactions already this year and believe this will continue long into the summer. Public house assets, such as The Clapham Tap, which are well-located will benefit immensely from the pent-up consumer demand in the coming months. Leisure has proven to be resilient even in the face of nearly a year of forced closure and we believe, demonstrated its value as a secure long term investment.
There remains a shortage of public house investments available for sale. Institutions and private buyers have strong requirements for the sector and we expect further activity. Institutions in particular are looking at sale and leaseback opportunities for excellent assets.”
Coffer Corporate Leisure and Finn & Co acted for the vendor, LaSalle Investment Management. Lewis & Partners and Tydus Real Estate acted for the purchaser, a private individual.