Coffer Corporate Leisure has completed the sale of a portfolio of six public house investments across London, the South East and Birmingham City Centre. The sale price for all six properties totalled in excess of £20 million.

The portfolio has been split and sold in two separate transactions to institutional funds at a combined price substantially above quoting.

The six properties were attractive buildings totalling c.45,000 sq ft, with the majority benefiting from outside areas. All six properties include long-term and highly regarded tenants with a total passing rent of £939,361 per annum.

Mark Sheehan, Managing Director, Coffer Corporate Leisure, said: “The six high-quality public house properties are all located in desirable city centre and affluent locations and occupy prominent positions in each respective location with substantial underlying property values.

“The pub investment market remains robust with demand for prime assets continuing to significantly out-strip supply. The pub sector’s strong trading performance has driven the investment market where a diverse spread of institutional capital from the UK, and private money from both the UK and overseas is pursuing the sector. This appetite is heightened for secure, long-let, income producing assets, and particularly so for indexation-based leases which provide guaranteed growth throughout. Unlike many other asset classes in the current climate, investors see longevity in the sector – many public houses have traded successfully for hundreds of years and there are no indications that this may change in the future.”