Realpubs three-pub Enterprise deal valued at £7.6m
Industry sources have produced a revised value for the deal reported last week involving Realpubs, the London operator founded by Nick Pring and Malcolm Heap, buying three freeholds from Enterprise.
The value deal has been put at around £7.6m — lower than the £10m estimate that was reported last week.
Realpubs has acquired the North London Tavern, Kilburn High Road, the Oxford, Kentish Town, and the Metropolitan, Westbourne Park, which was due to be auctioned by Enterprise.
The company has been a tenant at all three pubs for a number of years.
MA comment: "The deal completes Realpubs transformation from completely tenanted to completely freehold/free-of-tie.
"The suggestion is that Realpubs has paid a 12 times multiple of earnings to complete its property ownership transformation — it bought its Punch freeholds last year."
