Client: Laurel Pub Company
The last three years has seen significant corporate activity in the pub sector, with large brewers and pub companies selling parts of their portfolios to a mixture of operators, investors and property players.
Laurel Pub Company decided in 2004 to take advantage of strong demand from prospective purchasers by dividing its portfolio into two in order to maximise capital receipts. Our leisure team – working with DTZ - were appointed on the valuation of the two estates.
The portfolio included over 600 properties located throughout the UK. The neighbourhood estate had 430 properties of varying size and style of operation, and the remaining 180 were located in the UK’s town centres. Our role was to inspect a significant proportion of the portfolio (250 pubs) in a short timescale for valuation purposes.
The neighbourhood estate was subsequently sold to Greene King, raising approximately £654m, and the high street portfolio was sold to R20, raising a further £150m.
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