Portfolio of 13 Stonegate-operated pubs sold to BlackRock
Stonegate said it did not expect the sale to impact day-to-day operations or trading for the pubs involved.
Huge demand
Coffer Corporate Leisure managing director Mark Sheehan said the off-market sale of the portfolio was characteristic of the “huge demand” for pubs in the investment market.
“Institutional investors are attracted by the long leases, index-linked uplifts, strong underlying property value and liquidity of pub assets. Lack of stock remains our biggest issue,” Sheehan added.
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Pubs sold
The Burlington, Chesterfield; The Castle, Blackpool; The Crafty Scholar, Lancaster; The Mailbox, Lincoln; The Merchant, Glasgow; Prince of Wales, Chatham; Prince of Wales, Chorley; Slug and Lettuce, Derby; Slug & Lettuce, Southend on Sea; The Station, Eastleigh; The Surrey Arms, Camberley; Yates’s, Blackpool; Yates’s, Leicester
