British Land has sold its pub portfolio to Aprirose for circa £130m.
The sale comprises 45 assets operating under the Spirit Pub Company brand.
These are located in Brighton, Middlesbrough, Newcastle, Nottingham and Twickenham, with the majority in the North West and South East.
The acquisition brings the total pubs leased and owned by Aprirose to just under 200.
Manish Gudka, chief executive of Aprirose, said: “In recent years our engagement with the pub industry has increased considerably.
“The acquisition of the 45 British Land pub portfolio is a sign of our growing commitment to this exciting sector.
“Our investment into the Spirit Pub Company branded portfolio is testament to our experience and strong track record in this field.
“Against the backdrop of the Brexit uncertainty we are finding unique opportunities to acquire interesting assets. The F&B sector is particularly appealing as we seek to build our own bespoke offering.”
Aprirose was advised by Allsop.
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