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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.”
