22 July 2021, London: Aprirose, the real estate investment company, has completed the freehold sale of 30 pubs in its portfolio to an undisclosed buyer for approximately £100 million.
The 30 pubs, which are geographically located across England, were part of the portfolio of 45 assets acquired by Aprirose from British Land in 2019, which are all leased to Greene King. The pubs included the Barmy Arms in Twickenham and The Feathers opposite the Cliveden Estate.
The discussions between both parties pre-date Covid-19 and follow a significant regearing of the leases across all the pubs.
Manish Gudka, CEO at Aprirose Real Estate Investment, said: “We are pleased to have sold these assets at a price which demonstrates the resilience of the market and appetite for good quality, well located pubs. The sale is very much in line with our business plan of recycling our portfolio, and our commitment to developing our leisure and hospitality platform remains strong.”
Aprirose was advised by Allsop.