Aviva to offload eight Marston's pubs

Aviva Investors has instructed CBRE to sell a portfolio of eight recently constructed, freehold public houses across the UK for a guide price of £21.6m.

All of the assets are operated by Marston's, with guarantees from the Marston's topco. The leases expire in 2055 and have RPI annual kickers. Additionally, the tenant benefits from a £1 buyback option at lease expiry.

David Fraser, senior director and investment specialist in CBRE's operational real estate team, said: "We are delighted to have been instructed by Aviva Investors to market this excellent income strip opportunity. The portfolio comprises high-quality real estate that benefits from good underlying fundamentals and a strong return profile, in a sector that we expect to flourish as we continue to come out of the pandemic."