Slaughter and May advised Legal & General on the acquisition and leaseback of a portfolio of 27 public houses with Marston's Plc for a total purchase price of £69.71 million. The leases to Marston's are for a 40-year term yielding a total annual rent of £3.79 million. The portfolio is comprised of eight long leasehold and 19 freehold public houses, the majority of which are newly built. Marston’s has an option to buy back the properties at nil consideration at the end of the term.

CONTACTS

Real Estate: Jane Edwarde (partner), Gemma Goddard (associate), Marie Mulligan (associate), Will Bryant (associate), Roopa Modi (associate), Rachael Ashton (associate), Kate Turner (associate); Tax: Jeanette Zaman (partner), Ed Milliner (associate)

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