CBRE to sell eight Marston’s pubs for £21.6m
The leases on the newly built pubs reportedly expires in 2055 and have RPI annual kickers
Real estate advisor, CBRE, has announced that it has been appointed by Aviva Investors to sell a portfolio of eight recently constructed, freehold Marston’s pubs for a guide price of £21.6m.
The leases on the newly built pubs reportedly expire in 2055 and have RPI annual kickers.
Additionally, the future tenants can benefit from a £1 buyback option at lease expiry, whilst the guide price reflects a 5.75% net initial yield (NIY).
David Fraser, senior director and investment specialist, operational real estate, said: “We are delighted to have been instructed by Aviva Investors to market this excellent income strip opportunity.
“The portfolio comprises high-quality real estate that benefits from good underlying fundamentals and a strong return profile, in a sector that we expect to flourish as we continue to come out of the pandemic.”
