Stonegate operated pubs among portfolio of 13 sold for £23m
A portfolio of 13 pubs operated by Stonegate has been sold by owner Apriroose to investment specialist BlackRock for £23m.
Included in the sale are the Prince of Wales in Chorley, Lancashire, the Crafty Scholar in Lancaster and in Blackpool Yates’s and the Castle.
According to The Caterer, the properties have long, unbroken leases with 22.5 years unexpired terms and a total passing rent of around £1.35m per annum, reflecting a net initial yield of 5.5%.
Coffer Corporate Leisure advised real estate company Aprirose, while ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
