Investments 15 fleurets.com Property & Location Walkabout Leeds Slug & Lettuce Romford Zizzi Tunbridge Wells Ask Fareham Block & Gasket Manchester David Lloyd Leisure Newbury Date August 2018 August 2018 July 2018 May 2018 March 2018 August 2017 Price £3,425,000 £3,115,000 £1,810,000 £855,000 £815,000 £17,585,000 Rent p.a. £176,866 £178,000 £72,990 £49,500 £46,765 £850,000 Rent Reviews Annual RPI (2% & 4%) 5 yearly OMRV Annual RPI 5 yearly OMRV £46,765 5 Yearly RPI (0% & 4%) Net Initial Yield 4.8% 5.3% 3.8% 5.5% 5.4% 4.5% 1 Net Initial Yield (NIY) stated after deducation of standard purchaser’s costs Increased like-for-like sales have been reported across a number of the major pub companies, including Fuller’s, Young’s, City Pub Company, Mitchells and Butler and Stonegate, and the likes of Ei Group Plc have reported growth in net income. With a trip to the pub proving more attractive than ever, especially with the boost from the 2018 World Cup and summer heat wave, strong rental growth, especially across the south east, and low interest rates fuelling cheap finance, the attraction of the pub sector for property investment has proven increasingly difficult to match. Fleurets is active in the leisure property investment market place acting for investors, operators and individuals alike, advising on acquiring and disposing of such assets. Earlier this year Fleurets sold the Walkabout, Leeds, operated by Stonegate, in an off-market transaction for £3,425,000 reflecting a NIY of 4.85%. Fleurets has also recently acquired Riverside House in Bristol on behalf of City Pub Company, who were the tenants in situ, for a sum of £2,100,000, reflecting a NIY of 4.26%, thus demonstrating the demand for key sites and securing long term security over their occupation. Our agency team has recently brought to the market two highly attractive, central London, tied public house investments, the Red Lion in Holborn and Queen’s Larder in Bloomsbury, with guide prices of £2,150,000 and £2,250,000 respectively. This follows the recent sale (subject to contract) of the Tollington Arms in Hornsey, off a guide price of £2,200,000, also let on a tied lease. In addition to our activity in buying and selling leisure property investments, Fleurets continue to be well-placed to provide valuation advice in relation to acquisitions and have advised a number of institutional investors in this regard. We would be pleased to discuss your current investments and future investment requirements. The Old Red Lion, Holborn 1