Stonegate to offload 23 pubs

Stonegate Group has appointed Savills to market 23 of its pubs that are located across England, with the properties available for sale individually or as part of smaller packages. 

The pubs are let on long leases with rent reviews linked to the Retail Price Index. Locations include the Admiral Macbride in Plymouth, the Golden Ball in York, the Seven Stars in Canterbury and the Garden Bar in Hove.

Other properties in the portfolio include the Dartmouth Arms in Forest Hill, the Crown and Anchor in Bromley, the Harbour Moon in West Looe and the Wickham Arms in Brockley.

Stuart Stares, director in Savills licensed leisure team, said: “Pubs are proving to be a resilient and increasingly attractive asset class, driven by the sector’s strong fundamentals – long leases, index-linked rent reviews and resilient trading performance.

“Investor confidence is being buoyed by improving trading performance, significant reinvestment by operators and a more favourable economic outlook – including falling interest rates and steady consumer demand. As a result, we’re seeing renewed appetite for well-let pub assets, particularly those with long-term growth potential.”