01 April 2019: Aprirose, the real estate investment company, has acquired a 45-asset Spirit Pub Company branded portfolio from FTSE-100 property company British Land for c.£130 million.
The portfolio comprises of 45 pubs geographically located across England, including in Brighton, Middlesbrough, Newcastle, Nottingham and Twickenham, with the majority in the North West and South East.
These will be added into Aprirose’s existing portfolio of leased and managed pubs which will bring the total of pubs owned and run by Aprirose to just under 200.
Manish Gudka, CEO, Aprirose, said: “In recent years our engagement with the pub industry has increased considerably. The acquisition of the 45 British Land pub portfolio is a sign of our growing commitment to this exciting sector. Our investment into the Spirit Pub Company branded portfolio is testament to our experience and strong track record in this field.
“Against the backdrop of the Brexit uncertainty we are finding unique opportunities to acquire interesting assets. The F&B sector is particularly appealing as we seek to build our own bespoke offering.”
Aprirose was advised by Allsop.