Cheshire pub among quartet sold for £9.5m

A popular Cheshire pub is one of a portfolio of four hostelries sold for nearly £9.5m on behalf of real estate investment company Aprirose by specialist leisure consultancy firm Fleurets.

The Ship in Wilmslow was among the batch of pubs sold to Kames Capital at an initial yield of 4.8%. The other pubs were in the South.

Ed Sandall, divisional director at Fleurets said: “The transaction reflects the balance of the portfolio we purchased on their behalf from Cerberus in December 2014. This transaction again highlights investor appetite for the leisure sector predicated on the long lease length, fixed rental growth and strong tenants.”

Manish Gudka, chief executive at Aprirose, said:  “This transaction marks the successful execution of our business plan which involved an opportunistic approach by Fleurets to secure the assets which we held until the market improved and have sold off in a number of tranches enjoying excellent income and capital growth for our investors.”