CBRE ADVISES HEINEKEN ON SALE OF 150 PUBS
CBRE, the world's leading real estate advisor has advised Heineken on the sale of the 150 pubs in England, Scotland and Wales to Admiral Taverns, stemming from the ongoing integration of the Punch A estate and consisting principally of former Punch ‘Core’ pubs.
In a transaction where the seller’s preferred route was a single buyer, CBRE’s Operational Real Estate team (OPRE) successfully identified a targeted group of buyers that could provide certainty on process and financing and to bring the transaction to exchange within a defined timescale.
This is the fourth time that CBRE OPRE has assisted Heineken in a portfolio sales process – the first being the successful sale of 111 pubs to Admiral Taverns in 2014; followed by the sale of 30 pubs for CMA reasons in November 2017; and the sale of 76 pubs that were either closed or operating under Temporary Management Agreements to NewRiver REIT in December 2018.
“We are delighted to have once again acted for Heineken in a process which illustrates not only the demand for high quality tenanted pubs, but also the rigour on timing and buyer-certainty that we can bring to a complex process.”