Pub giant Marston’s has agreed a sale and leaseback of 45 pubs for £110m.
The group sold 18 pubs to Standard Life for £40m and another 27 to Legal & General for £69.7m.
The freeholds will revert back to Marston’s at no cost at lease expiry.
Shoosmiths’ Vaqas Farooq said: “This has been an exciting and unusual project to have advised on. We also advised Marston’s on the original purchase and development of the majority of the 45 public houses which they’ve acquired over the past five years.”
DCLM Commercial Property acted for Marston’s; Savills advised Standard Life and Legal & General.
annabel.dixon@estatesgazette.com
