Valuations

Whatever the motivation for a valuation – change of use, sale, internal strategic needs – you need to be sure it’s being done by experts with a thorough knowledge of the market. These are just a few of the valuations we have undertaken.

  • Hermes Property Unit Trust – we provided specialist valuation advice for the fund manager when Hermes acquired a portfolio of 17 freehold pubs from Enterprise Inns for £23.9 million. Two of the properties were in London, with most of the rest in affluent locations in the South of England. This was the second valuation we worked on with Hermes during 2011 – the previous one involved 26 pubs in central and inner London.
  • Acting for a pension fund – we valued ten prestigious managed houses operated by one of the country’s largest pub companies. The sites are located across London and South East England and include some of the best-performing pubs in the country. The client needed experts with a thorough knowledge of the sector in order to ensure that a hypothetical purchaser could be identified, one that was financially capable of purchasing the sites and had the skills to retain the extraordinarily high level of profits. 
  • Capital Pub Company – we worked with this AIM-listed pubco since it was formed in 2000 and in 2011 we valued its primarily freehold estate of 28 pubs around London at £64 million, just as the company was acquired by Greene King. We continue to act for the founders’ new venture, City Pub Company.
  • Acting for a private equity fund – we hastily valued 20 freehold investment public houses across the United Kingdom, where each was subject to a lease to a branded high street operator. Strategic advice and sector knowledge was as important as each specific valuation.