Eversheds Sutherland completes sale of pub portfolio for Mitchells & Butlers

Eversheds Sutherland has completed the sale of a 73-pub portfolio on behalf of longstanding client Mitchells & Butlers (M&B) to real estate investment company Aprirose.

The portfolio, which will be named Milton Pubs and Taverns, includes 65 freehold and eight leasehold properties across the UK in England, Scotland and Wales.

The Eversheds Sutherland team was led by corporate Partner Catherine Eley and real estate Principal Associate Marie-Louise Ludlow. The team comprised: Legal Director Amanda Smith (employment), Principal Associate Colin Askew (tax), and Associates Claire How (real estate), and Peter McHugh (corporate).

Catherine Eley, Eversheds Sutherland, commented:

“We’re delighted to have supported on what is a key transaction for our client. This is a strategic move that will enhance the commercial agility of its business, enabling it to prioritise and execute significant targeted investments in the future.”

Gary John, Group Property Director, Mitchells & Butlers, commented:

“This transaction has enabled us to rebalance our estate and continue our strategy to deliver greater shareholder value. The commercial foresight and level of technical legal advice provided to us by Eversheds Sutherland stood us in good stead in the successful completion of this deal. We look forward to working with the team again.”

Aprirose was represented by Penningtons Manches.