23 January 2019: Aprirose, the real estate investment company, has acquired a 22 Marston-branded pub portfolio from property investor, manager and developer New River, for £15 million.
Fifteen of the pubs from the portfolio will be leased back to Marston. The portfolio is comprised of assets located across the UK including the Midlands, Yorkshire and the Humber, North West, Wales and the South East. The acquisition will bring the total number of pubs in Aprirose’s portfolio to 94.
The acquisition of the Marston’s portfolio follows Aprirose’s acquisition of Milton Pubs and Taverns in the summer of 2017 and Wear Inns portfolio in August 2018, as the company continues to expand its F&B business.
Tenants within Aprirose’s current pub portfolio include Greene King, Marston and Punch Taverns.
Manish Gudka, CEO, Aprirose, said: “Our investment in the Marston’s portfolio highlights our commitment to this sector and follows our move into a more hands-on-approach to the management since the acquisition of the two portfolios in the last 18 months.
“The expansion into this sector reflects our wider strategy of growing our food and beverage business as part of our diverse real estate portfolio. These well-located assets are a strong investment for our clients, as we continue to increase our presence across the UK in line with our future vision for the company.”