Coffer Corporate Leisure has advised on the sale of The Hope Tap – a public house located in the heart of Reading.

The purchase price of £2.5 million reflected a Net Initial Yield of 4.93%.

The property is held freehold and is entirely let to JD Wetherspoons PLC, one of the UK’s largest pub companies, on a 40-year lease with fixed uplifts.

Mark Sheehan, Managing Director at Coffer Corporate Leisure, said “Investors continue to come back into the public house investment market, with this transaction being one of a number of pub transactions we have completed in recent weeks. We believe the strength of this investor confidence – as we predicted back in March with the easing of restrictions – will continue to grow. We have a pipeline of agreed transactions in the sector and expect an extremely strong finish to the year”.

Coffer Corporate Leisure acted for the vendor, AEW UK. The purchaser was self-represented.