International real estate advisor Savills, on behalf of a private client, has brought to market a 16-strong portfolio of prime licensed leisure investments in London for a guide price of £69.55m.
The portfolio comprises assets in locations including the City, West End, South Bank, Chelsea, South Kensington, Notting Hill, Holland Park and Maida Vale. All are let to experienced multiple operators, including Spirit Pub Company, Mitchells & Butlers, Baker & Spice, Ei Group, Santa Cruz Co, Fuller’s, Patara and Young’s.
The full list of properties is as follows:
1. Admiral Codrington, Chelsea (pictured)
2. Baker & Spice, Chelsea
3. Browns, Butler’s Wharf
4. Builders Arms, Chelsea
5. Casa Cruz, Holland Park
6. Dirty Martini, the City
7. Duke of Clarence, Chelsea
8. Elgin Bar & Grill, Maida Vale
9. Elystan Street, Chelsea
10. Galvin, the City
11. Mall Tavern, Notting Hill
12. Patara, South Kensington
13. Prince of Wales, Covent Garden
14. Red Lion, St James’s
15. Uxbridge Arms, Notting Hill
16. Waterfront Brasserie, St Georges Wharf
The assets involved have a weighted average unexpired lease term of over 16 years and currently generate a combined passing rent of £2.63m per annum.
Paul Breen, director in the licensed leisure team at Savills, commented, “Portfolios of this quality very rarely come to market, with trophy assets in some of London’s most exclusive locations and significant potential for rental growth. The attractive lot sizes provide excellent liquidity and will therefore appeal to a broad variety of UK based and international buyers.”