HPUT Buys UK Pub Portfolio
Hermes Property Unit Trust (HPUT) has acquired a portfolio of 17 freehold pubs in the United Kingdom for £23.85 million (€28.7 million). The properties are let to Enterprise Inns Plc and have an initial rent roll of £1.635 million (€1.97 million) per year.
“This purchase complements the portfolio of central and greater London pub assets that we acquired in the first half of 2011. In this second transaction, the investments are located principally outside London, but we have selected high-quality assets in affluent locations that meet our performance criteria,” says Chris Mathew, fund director of HPUT.