Brighton Freehold Investment Sold to Cervidae

Fleurets is delighted to announce the successful investment sale of North Laine Brewhouse, Brighton, which has now completed to Cervidae.

This historic five-storey character property, dating back to 1819 and spanning 653.85 m² (0.162 acres), occupies a prominent site on the corner of Gloucester Place and Gloucester Street in the North Laine district which is close to the City Centre.

The freehold investment sale includes The North Laine Brewhouse occupying the ground floor, basement and a manager's flat at first floor level, external customer trade space to the front of the property for approximately 100 covers fronting Gloucester Place. Plus, above the public house are eight flats let on Assured Shorthold Tenancies.

The property trades under Laine Pub Company (a subsidiary of Punch Pubs) which operates a total of 56 pubs made up of a mixture of freeholds and leaseholds sites.
As part of the investment sale, all tenants remain in situ and unaffected.

Mark Hus, Asset Manager at Cervidae, commented: "We're delighted to acquire this substantial high-profile property. We have been seeking an opportunity in Brighton for some time, and North Laine Brewhouse is an excellent addition to our portfolio. Its strong location and established tenant mix align well with our long-term investment strategy."

Nick Earee, Divisional Director of Fleurets South who acted for the vendor, said: "North Laine is an historic property and a strong investment in one of Brighton's most vibrant and desirable districts that continues to attract significant interest for both hospitality and residential investment. We are thrilled to have sold this prime asset and achieved a successful outcome for both the vendor and Cervidae."

Elysia Wilson-Gunn, Divisional Director of Fleurets London, who worked alongside Nick on the deal, added: "Cervidae's acquisition of North Laine Brewhouse reinforces the strength of Brighton's property market. We are very pleased to have facilitated this investment sale and look forward to seeing the venue continue to thrive with Laine Pub Company trading well as their tenant and the value-add element of the residential property above."

Michael Shapiro, Commercial Property Partner at Spencer West LLP acted for the vendor Gloucester Enterprises.