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The Crown 4 May 2023

Glenstone purchases prime central London pub.

Posted on May 5, 2023

Glenstone REIT plc are delighted to conclude the off market purchase of a prime central London pub, The Crown, SW3. Located in the highly affluent south west location of Chelsea, this pub opportunity provides an excellent addition to the portfolio. The pub is let on a FRI lease to Ei Group Ltd, a wholly owned subsidiary of Stonegate Pub Company Ltd, for a further 23 years without breaks and the lease also benefits from fixed rental increases.

Sam Russell, Property Investment Manager commented "Following recent sales of central London residential assets we are very pleased to reinvest the funds in a prime central London asset, let to a strong covenant in one of London’s most desirable areas. The pub is located just off Fulham Road within close proximity of the Royal Brompton and Royal Marsden hospitals. This acquisition is our ninth pub within the portfolio and further diversifies our income profile across all sectors and locations across the UK."