DCL Instructed to Sell Investment Portfolio of 3 Dining Pubs for Albanwise
September 24, 2012
Leisure property advisors Davis Coffer Lyons has been instructed to sell a select group of three dining pubs on a freehold investment basis on behalf of Albanwise Ltd.
The sale price for the group is £1.75m although individual sales will be considered. The pubs, which are located in attractive countryside locations, include The Bull Inn in Stanford Dingley, Berkshire, The Bull Hotel in Wroughton, Kent and The Crown in Broughton, Cambridgeshire. They are run by independent tenants on free-of-tie leases and rents range from £25,000 to £52,500 per annum. All three are set in extensive grounds with garden and car-park facilities.
Chris Bickle, Associate Director at Davis Coffer Lyons says: The portfolio comprises attractive investment opportunities with a combination of set uplifts and turnover rent and these pubs have already generated some early interest from a variety of investors and regional brewers. Two of the pubs have several letting bedrooms available and one is run by award winning operators.
William Lee, Chief Executive of Albanwise Ltd comments: The company has built for improvement a small portfolio of destination rural pub/restaurants, targeting those in exceptional settings and large grounds with long term as well as income potential. It is selling those less far from its core farmed rural estates, for ease of management, and having secured good businesses on the pubs now on offer. Of the 5 retained are included the renowned Berney Arms, Barton Bendish, Norfolk and The Stone Trough Inn, Malton, Yorks.